Friday, June 17, 2011

Greek rescheduling could be 'fatal for euro'
















A rescheduling of Greek debt would solve nothing but could mark "the beginning of the end" of the eurozone, the head of the French AMF market regulating body Jean-Pierre Jouyet warned on Friday.



But a rescheduling could also mark the opening of a new phase of cooperation between EU governments, he said.

Jouyet, who is president of the French Authority for Financial Markets, referring to German pressure for a rescheduling, told RTL radio: "That could be either the beginning of the end, or the beginning of a new (phase) of European integration."

He said: "What is at stake through Greece is the credibility of the eurozone and of the construction of Europe."


AFP