Finance ministers in debt crisis gathering

 

European finance ministers and US Treasury Secretary Timothy Geithner are in Poland for a debt crisis meeting.

The air of impending catastrophe was slightly lifted yesterday with new arrangements to provide dollar loans for European banks - but the banks are only part of the problem.

The real issue is the long term viability of the euro. On the Today programme this morning we discussed whether the finance ministers will make any moves at their two-day gathering that could ensure its viability.

 
Stephanie Flanders, Economics editor Article written by Stephanie Flanders Stephanie Flanders Former economics editor

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  • rate this
    0

    Comment number 1.

    The real strategic issue is the regulation and the control of the mega banks because it was their wild west operandi that lead to the present position. UBS is not out of character. As some have said we saved the banks but wrecked sovereign finances in the process. Sure we are where are but let's not forget how we got here. Osborne is mistaken if he thinks we are PIIGS woe proof.

  • rate this
    -6

    Comment number 2.

    "The real issue is the long term viability of the euro"

    The real issue is NOT the long-term viabiity of the euro but the fact that people such as yourself (with nothing better to do) keep DOUBTING the long-term viability of the euro.

    Rather like doubting the ability of the sun to rise in the morning... ;-)

  • rate this
    +1

    Comment number 3.

    Again the rich politicans will look to for a way to ensure they stay rich by getting the poor to save the banks.
    But this time around you've got the problem of nationalism - German taxpayers not wanting to bail-out southern Europeans (& the north European banks).
    Ordinary people can't pay any more.
    Eventually the banks we go under (perhaps along with the Euro).

  • rate this
    +3

    Comment number 4.

    #2. Cant see what doubt or confidence has to do with it. If it was robust doubt would make little difference. Tieing a bunch of different economies together with string and getting them to walk down the street together was never going to work. And the euro will fail just like the ERM did 19 years ago.

  • rate this
    +1

    Comment number 5.

    Just how many more of these worthless Meeting's are they going to hold before they realise that their combined imputs are hopelessly pointless, and will never work to permanently stop any Country Defaulting on their eye-watering over - sized mountains of personal Debt's.

 

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