As more and more countries within the European Union struggle
economically, the euro - the union's common currency - becomes more
embattled, with its founder now even predicting its demise. German
Finance Minister Oskar Lafontaine, who was responsible the euro's
development and launch, is now calling for the end of the single
currency in order to let southern Europe recover. He says if not, the
current fiscal course is "leading to disaster."
"The economic
situation is worsening from month to month, and unemployment has reached
a level that puts democratic structures ever more in doubt," he said,
according to the Telegraph, one of Britain's largest dailies. "The
Germans have not yet realized that southern Europe, including France,
will be forced by their current misery to fight back against German
hegemony sooner or later," he said, adding that much of the current
fiscal crisis has come in large part from Germany's squeeze on wages, in
order to gain export share.
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