Leading Dutch economist on the euro crisis

18th September 2011, Comments 0 comments

The emergency fund for weak eurozone countries should be doubled and made more effective and the European Union should get more powers to enforce budgetary discipline.

Monetary economist and former director of the Dutch central bank Lex Hoogduin told TV programme Buitenhof on Sunday that this should halt the European debt crisis. He says the emergency fund should be increased to 1.5 trillion euros and he favours the appointment of a European finance minister to police the rules and enforce budget discipline.

He added that Greek bankruptcy could not be ruled out.

He stresses that the bailout of Greece must continue. “Greece's priority is to get its debt under control, but if it doesn't get any more money there will be chaos.”


© Radio Netherlands Worldwide

© Radio Netherlands Worldwide

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