[31 May 2012] Euro-crisis to deepen due to bad banking - English
The EU's Economics Commissioner Olli Rehn says eurozone leaders must anchor their actions in more austerity if the eurozone is to avoid "disintegration" amid the economic crisis. Rehn believes that "default or... Show More >>[31 May 2012] Euro-crisis to deepen due to bad banking - English
The EU's Economics Commissioner Olli Rehn says eurozone leaders must anchor their actions in more austerity if the eurozone is to avoid "disintegration" amid the economic crisis. Rehn believes that "default or disintegration" would likely cause much greater pain for Europe's citizens than further unpopular austerity and reforms, as it "would lead to terrible depression in Europe and around the world." His remarks come as EU leaders have been struggling to ease the Europe economic crisis and amid concerns over a Greek exit from the debt-stricken eurozone.
Press TV has conducted an interview with Rodney Shakespeare, professor of binary economics from London, to further discuss the issue. Show Less >>
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