Ex-German Finance Minister: Greece needs to re-enter the Drachma
The Euro is crashing says famous German politician, former German finance minister and ex-chairman of the SPD, Oskar Lafontaine in an interview with Der Spiegel magazine has called for the abandonment of the single European currency.
"The euro has already collapsed, we must not have any illusions, "- he said, calling the single European currency a" step backward within the historic project of European integration. " From a policy perspective, the main error in the creation of a single currency union was that it was not preceded by the creation of a new political union.
"Without a European economic government the single currency can not function", - the politician said, adding that Germany imposed unemployment "can not be the basis for the European unity. "Lafontaine was referring, in particular, the crisis in Greece, which, according to many analysts, was energized austerity measures imposed by Germany.
From the perspective of Lafontaine, if Greece again introduce its own currency, it could rise again feet. "It is obvious that Greece can not achieve economic progress in the current harsh conditions of the single currency", - he said. The EU # # Euro Greece # # Drachma collapse # # default