“I think the funds that have been pledged at Euro Summit combined with the outcome of the private sector involvement process should be sufficient in order to support financially the Greek economy.” ThinkingShouldHas BeensOrderProcessSupportEconomyGreekOutcomesSufficientFundSummitInvolvementPrivate SectorEuro Author:Lucas Papademos
“If another euro country fails, so does Slovakia. Our economy is 80% open and if the citizens of Spain and Portugal have no money to buy cars made here in Slovakia then that will be bad for us. Everything is connected.” IfsDoeMadeCountryEconomyFailingCarCitizensConnectedSpainNo MoneyEuroPortugalSlovakia Author:Iveta Radicova
“For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.” WantAbleEconomyPolicyCostAbsolutesIndependentTradeUnionsProfitZoneCurrencyReapMonetaryTransactionsEuroCentral BanksMonetary PolicyFrankfurt Author:Dalia Grybauskaite
“We won't make the weak stronger by making the strong weaker, as a very wise man once said. That applies to the economy as well. If Germany were less competitive, the euro area as a whole would lose, because less could be produced then.” IfsMenWellsSaidWholeStrongLosesEconomyWiseAreasWeakStrongerGermanyWise Man Once SaidEuroVery Wise Author:Mario Draghi
“Germany cannot get out of the euro. What it has to do, therefore, is make the economy more flexible - to eliminate the restrictions on prices, on wages and on employment; in short, the regulations that keep 10 percent of the German workforce unemployed.” EconomyPercentEmploymentGermanyRegulationWagesFlexibleRestrictionUnemployedEuroWorkforce Author:Milton Friedman
“For a small open economy such as Cyprus, the euro adoption provides protection against international financial turmoil, which often has a disproportionate effect on smaller economies.” EconomyFinancialInternationalProtectionAdoptionTurmoilEuroCyprus Author:Jean-Claude Trichet