Eurozone ‘biggest risk to global economic stability’ says former UK Defence Minister

It is not the Eurosceptics who are out of step but those with a fossilised view of how Europe should be, formed in the 1950s and locked in aspic since, says Liam Fox MP

by Steven George-Hilley on 10 November 2014 17:19

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Dr. Liam Fox MP, the former cabinet minister, will use a speech to claim that the Euro and the Eurozone represent the single biggest risk to global economic stability. In extracts of a speech he will deliver to the ‘New Direction Foundation’ in Brussels tomorrow, seen by The Commentator, the former defence secretary will claim:

“There is as much chance of realising the alchemist’s dream of turning base metals into gold as there is of turning an economy like that of Greece into one that resembles Germany’s.”

“The euro crisis continues to be the most important issue in European politics, and this is unlikely to change any time soon. Despite all evidence to the contrary, European leaders continue to treat the problem as a fiscal issue when in reality it is the fiscal symptom of economic and cultural differences. The underlying truth is that the economies inside the Eurozone are no closer to convergence today than when the currency was created.”

“It is not the Eurosceptics who are out of step but those with a fossilised view of how Europe should be, formed in the 1950s and locked in aspic since. The warnings of history are all around us. Today, of all days, we are reminded of them. We would be wise to heed them,” Fox will say.

The news comes following the recent launch of the ‘One Minute Fox’ news channel, which showcases videos on key policy initiatives.

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