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Minutes of the ECB-EES Economic Talk 10. June 2010
Thursday, June 10th, 2010, the members of the European Economic Senate (EES) met in Frankfurt with Prof Dr Jürgen Stark, Vice-President of the European Central Bank (ECB) to discuss the topic “Is the EURO still secure?”.
The information and the open discussion with Prof Stark led to the result, that the actual crises is not a question of the stability of the Euro, it is a question and caused by the increasing national debts of the EU-Member Countries.
Globally the Euro has not lost its standing compared to the key currency US-Dollar or other international currencies.
The consolidation of the public budgets, which was overdue, has heightened the pressure on politics.
If the responsible policy makers have learned their lessons, interpret the signs in the right way and take action the crises could have some positive effects for the future.
EES Secretary General