Quotes & Sayings About Eurozone Crisis

When the Eurozone was started, a fundamental stabilising force that existed at the level of the member-states was taken away from these countries. This is the lender of last resort function of the central bank." EZ governments, "could no longer guarantee that the cash would always be available to roll over the government debt." Unlike stand-alone nations, EZ members did not have "the power to force the central bank to provide liquidity in times of crisis." This created a fundamental fragility in the monetary union. Without a buyer-of-last-resort, shocks that provide re-funding difficulties in banks or nations can trigger self-fulfilling liquidity crises that degenerate into solvency problems. — Richard Baldwin

The European Union that emerges from the Eurozone crisis is going to be a very different body. It will be transformed perhaps beyond recognition by the measures needed to save the Eurozone. — David Cameron

We are near, very near, to an end to the eurozone crisis ... The worst - in the sense of the fear of the eurozone breaking up - is over. But the best isn't there yet. — Francois Hollande