Euro may only last five years, says senior German government advisor
That is an optimistic point of view
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In notably outspoken remarks for a senior German figure, Dr Konrad, chairman of a scientific council that advises the finance ministry, said: “Europe is important to me. Not the euro. And I would only give the euro a limited chance of survival.”
Asked whether he thought the single currency would last five years, the economist said: “A concrete period is hard to identify as it depends on so many factors. But five years sounds realistic.”
This pessimistic judgment by a senior adviser runs counter to the official German government view that the euro must be held together for the sake of unity in Europe. Dr Konrad’s remarks came in an interview with the newspaper Welt am Sonntag, on the debt crisis in Europe.
The economic adviser warned that: “No country can pile up debt without running the risk that their investors will pull the plug. It’s in each [country’s] interests to keep their own debts as small as possible.
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