“In an
interview with the Der Spiegel magazine, the former chairman of
Germany's Social Democratic Party, Oskar Lafontaine, has called for
the abandonment of the single European currency. According to him,
the biggest mistake in creating a single currency union was the fact
that the process was not preceded by the formation of a new political
association.”
“He
added that the euro cannot function 'without a European economic
government,' and that the unemployment, imposed by the German
government, 'cannot become the basis for European unity.'”
“Lafontaine
apparently referred to the ongoing crisis in Greece, which many
analysts claim was sparked by a spate of austerity measures that were
in turn imposed by Germany. From Lafontaine's point of view, Greece
must turn back to the Drachma, its former currency, to regain its
footing. 'It is absolutely clear that Greece cannot achieve economic
progress amid the current harsh conditions of the single currency',
he concluded.”
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