Image for The Great Euro Crash with Robert PestonNot currently available on BBC iPlayer

Duration: 1 hour

For more than two years Europe has teetered on the edge of an economic precipice - one of the factors that has pushed Britain back into recession. How exactly did Europe get itself into the current financial mess? Talking to historians, economists and politicians, BBC business editor Robert Peston takes a long view of the euro - from Churchill's vision of a United States of Europe to the bail-outs of Greece, Portugal and Ireland. Meeting a property developer in Ireland, a taxi driver in Rome and a German manufacturing worker, the film exposes the high cost being paid by European workers today for the dream of monetary union - and how close Europe came to a complete banking meltdown. The crisis could yet claim another victim - Britain, with its vast financial sector, would be dragged down by the collapse of the euro. The cost for saving the euro may be high, but the alternative would be a return to the economic mayhem of the 1930s.

Last on

Wed 20 Jun 2012 01:30 BBC One except Scotland, Wales

  • European Central Bank, Frankfurt

    European Central Bank, Frankfurt

    How exactly did Europe get itself into the current financial mess? Talking to historians, economists and politicians, BBC business editor Robert Peston takes a long view of the euro - from Churchill's vision of a United States of Europe to the bail-outs of Greece, Portugal and Ireland. Meeting a property developer in Ireland, a taxi driver in Rome and a German manufacturing worker, the film exposes the high cost being paid by European workers today for the dream of monetary union - and how close Europe came to a complete banking meltdown. The crisis could yet claim another victim - Britain, with its vast financial sector, would be dragged down by the collapse of the euro. The cost for saving the euro may be high, but the alternative would be a return to the economic mayhem of the 1930s.

    Read Robert Peston's blog...

Credits

Reporter
Robert Peston
Reporter
Robert Peston
Producer
John Thynne
Producer
John Thynne
Executive Producer
Sam Bagnall
Executive Producer
Sam Bagnall

Broadcasts

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.