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Yves Logghe/AP/Press Association Images

Eurozone 'has ten days to save itself, or collapse' - analyst

Wolfgang Münchau, associate editor of the Financial Times, believes catastrophe is coming if a deal is not struck by December 9.

THE EUROZONE HAS just ten days to resolve its diplomatic impasse and take decisive action against the debt crisis – or it faces a “violent collapse”, an analyst has warned.

Wolfgang Münchau, an economic journalist and associate editor of the Financial Times, believes that if EU leaders do not reach consensus on a series of key decisions at a meeting scheduled for December 9 then the eurozone project could disintegrate entirely.

In an opinion piece for the Financial Times, he calls for immediate action on a number of areas – agreement on which has eluded EU politicians for several months. Münchau states:

  • The EU’s sovereign bond market has “ceased to function” after the failure of a German auction last week – and the area now faces a ‘run’ whereby global investors withdraw their assets.
  • The area’s main rescue strategy, the European Financial Stability Fund, is itself under threat as so many of the countries which fund it are seeing their creditworthiness questioned.
  • Politicians’ outspoken comments on rescue measures – such as Angela Merkel’s vocal opposition to eurobonds – is jeopardising any chance of a deal.
  • Time is running short. “If the European summit could reach a deal on December 9, its next scheduled meeting, the eurozone will survive,” he writes. “If not, it risks a violent collapse.”

He calls for dramatic financial interventions, the establishment of a eurobond, and agreement on a genuine fiscal union with a central EU treasury setting some economic policies.

For more details, read Münchau’s column in the Financial Times here>

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39 Comments
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    Mute JustAoife
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    Jun 12th 2015, 6:52 AM

    I actually hate this guy. He’s the human embodiment of everything that us wrong with the world today.

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    Mute Plantation Watch
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    Jun 12th 2015, 8:20 AM

    I’m sure he doesnt hate you Aoife, or even know you exist.

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    Mute JustAoife
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    Jun 12th 2015, 8:42 AM

    Whats your point? athat because he’s well known he’s somehow a better or more valuable person than me? He’s still just a person and a pretty obnoxious one at that. People who worship celebrities like some sort of demi God’s need their heads examined.

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    Mute JustAoife
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    Jun 12th 2015, 8:48 AM

    Oh yeah and I’m sure he’s sending a card right now to thank you for defending him or are you just an insignificant little nobody just like me?

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    Mute Aaron O Connor
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    Jun 12th 2015, 9:07 AM

    I’ve never heard of him before this article. I bet he’s hung like a sea horse.

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    Mute Ciaran Ó Fallúin
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    Jun 12th 2015, 9:43 AM

    Aoife, I think the point is that you probably don’t need to waste you energy hating someone you’ve never met and likely never will meet when the can’t/don’t impact your day.

    If you spent your day hating people from the internet, your day would be an awful waste.

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    Mute JustAoife
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    Jun 12th 2015, 10:11 AM

    Maybe hate was the wrong word then. Him, his antics or his existence don’t affect my daily life just the odd time when I unavoidably come across him (like now) it irritates me and reminds me of all the stupid people in the world that idolise him , that’s it.

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    Mute Rob
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    Jun 12th 2015, 6:50 AM

    Tool

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    Mute Conor Church
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    Jun 12th 2015, 6:49 AM

    wonder will he pay women to vote for him too…

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    Mute Pepper Brooks
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    Jun 12th 2015, 8:27 AM

    He’s some legend!

    37
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    Mute Cabe™
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    Jun 12th 2015, 9:58 AM

    Well they did vote in Bush for a second term, so there’s hope for him!

    35
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    Mute Joe Harbison
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    Jun 12th 2015, 7:06 AM

    I’ve never heard of him but he seems to be overcompensating. Anyone who has to work so hard to prove and demonstrate his macho, heterosexuality to himself and everybody else clearly has a few underlying uncertainties. He might be happier if he came to terms with them!

    109
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    Mute Pearse McMullen
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    Jun 12th 2015, 7:21 AM

    Seems like he is so far back in the closet, he is sitting in Narnia

    75
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    Mute Ísla Carabine
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    Jun 12th 2015, 8:13 AM

    You should have a gawk at his Facebook page, you may actually get irrationally angry after a few minutes. Don’t get me started on the idiotic girls in the pictures! On the up side he’s had a lot of work done, hair plugs, veneers etc so there is still one photo out there of what he used to look like……

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    Mute Ron North
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    Jun 12th 2015, 9:14 AM

    He’s probably overcompensating for being a trust fund baby, It’s all Daddy’s money so basically hes a guy who hasn’t accomplished a single thing in his life.

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    Mute Darragh O'Connell
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    Jun 12th 2015, 6:58 AM

    Please, the less we see of this ars*hole the better!

    108
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    Mute Ríonach
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    Jun 12th 2015, 7:20 AM

    Why are Irish news sites giving this gobs**te coverage? We’ve plenty of them ourselves; and plenty of decent people worth reporting on as well.

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    Mute Mick Bacon
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    Jun 12th 2015, 7:24 AM

    Click bait.

    36
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    Mute Yvonne Nic Gabhann
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    Jun 12th 2015, 8:10 AM

    I lost all respect for him after seeing a recording of him kicking a woman full force in the face.. not that i really had much respect for him to begin with!

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    Mute JustAoife
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    Jun 12th 2015, 9:03 AM
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    Mute Andrew McQuillan
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    Jun 12th 2015, 8:35 AM

    He’s going to need to learn the correct placement of an apostrophe rather than an opening single parenthesis on his poster for a start.

    Shove that up your playboy lifestyle!

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    Mute justanothertaxpayer
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    Jun 12th 2015, 12:31 PM

    The apostrophe is in the correct place and there are no parenthesis on the poster at all.

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    Mute right wing
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    Jun 12th 2015, 7:14 AM

    I wish I was him, lucky git!

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    Mute Stephen B
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    Jun 12th 2015, 8:51 AM

    You wish you had his money (his dad’s dodgy money) and so do I, but he’s a complete tosser!

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    Mute Dan Smith
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    Jun 12th 2015, 10:25 AM

    His poker earnings are only a fraction of what he earns. Most of his income comes from Daddy Bilzerian’s bank account. What I love most of all is that he claims to be a navy veteran & only spent around 3 months in the navy before dropping out hahaha. I was in Coppers last week for a few hours so I guess that makes me a nightclub owner by Bilzerian’s logic….

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    Mute Tongueless Ghost
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    Jun 12th 2015, 8:17 AM

    What a knob jockey

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    Mute Rebecca De Stanleigh
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    Jun 12th 2015, 9:29 AM

    Terrible human.

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    Mute mrs b
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    Jun 12th 2015, 9:44 AM

    He seems like a right pr¡ck but soooo many men would want to live that life..and so many women are clearly happy to be used by him ..that’s what’s really sad here

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    Mute AnneMarie McCarthy
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    Jun 12th 2015, 9:53 AM

    I’m sure they’re compensated well for their time. Probably by the hour.

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    Mute mrs b
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    Jun 12th 2015, 10:12 AM

    Very true.. just had a gawk at his inst-ego page there… good god.. how shallow is the is guy.. I get that the guy likes his women but wouldn’t it all get a bit boring. .same cardboard cut out women.. doesnt look like conversations would be top of their list .. It’s an embarrassment to the female sex that these women totter around a egotistical maniac massaging his ego hoping to be the one he’ll choose.. have some respect ladies

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    Mute Kevin O Farrell
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    Jun 12th 2015, 11:55 AM

    a male version of the Kardashians, pointless American celebrity!

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    Mute Daithi Mac An TSionnaigh
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    Jun 12th 2015, 9:42 AM

    He should be put down

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    Mute Gerard Ryan
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    Jun 12th 2015, 9:58 AM

    The ego has landed.

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    Mute Pat O'Dwyer
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    Jun 12th 2015, 10:04 AM
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    Mute Brian Power
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    Jun 12th 2015, 10:40 AM

    He is a crap at poker

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    Mute Conor Cartch Quigley
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    Jun 12th 2015, 5:43 PM

    Professional arsehole

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