Wellink fears eurozone may collapse

24th November 2011, Comments 0 comments

Former Dutch central bank president Nout Wellink says the euro will not survive unless measures are taken to stop the undermining of the eurozone.

He made his statement in a recently published book, in which he calls for the creation of a commission of financial experts which would have to draw up a series of proposals in the short term for changes to the European Treaty. He also argues for increasing the European emergency fund EFSF to “at least 1,500 billion euros.’’

In his book, Mr Wellink blames Prime Minister Mark Rutte and Finance Minister Jan Kees de Jager for “making a veiled appeal for a run on the banks in Greece” when they submitted a proposal to expel countries which fail to adhere to budgetary rules from the EU.

© Radio Netherlands Worldwide

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