Europe committed to single currency: German finance minister

10th December 2010, Comments 0 comments

Eurozone countries including Germany are committed to defending the stability of the single currency, German Finance Minister Wolfgang Schaeuble said on Friday.

"All European countries are determined to keep this European currency stable and we have the means to do it," he said in an interview published in the online edition of the Wall Street Journal.

"Sometimes it takes crises so that Europe moves forward. In this crisis, Europe will find steps toward further unification," said Schaeuble.

Schaeuble, considered the most pro-Europe of Chancellor Angela Merkel's government, said the Germans were "far too sensible" to abandon the euro because of the benefits of the currency to the country's export machine.

He also rejected suggestions that the debt crisis which has enveloped Greece and Ireland and is threatening Portugal would spread across the eurozone.

"There will be no domino effect, because we will defend the common currency," he said.

A survey published by public broadcaster ARD on Friday found that 60 percent of Germans wanted to keep the euro, despite the debt crisis.

© 2010 AFP

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