‘Europe is in danger’

Finance Minister Jacek Rostowski. Photo: EPA

“Poland, as a country and the presidency, fully supports all efforts to combat this crisis through further integration of the euro zone,” Rostowski told MEPs.

“But we have to remember that this process should not be abused to create a Europe of two speeds. We should not beguile ourselves, if the euro zone breaks up, Europe will not be able to survive for long”, he added.

European Commission head Jose Manuel Barroso agreed with the Polish minister.

"We are facing the biggest crisis of this generation. It's a struggle for the political future of Europe, for European integration as a whole," Barroso told the European Parliament.
Rostowski said the, "current crisis, if it continues in such an unpredictable way, will have major repercussions.

"If it lasts for a year or two, we must be ready for unemployment levels that could be doubled in some countries, including the richest ones."

Rostowski stressed that to save the euro, the European countries should strictly observe the recommendations of the European Central Bank and consistently implement its decisions.

A decision by any country to leave the euro zone would have dramatic consequences and would undermine Europe’s credibility as well as trust in its currency.

If such a scenario happened, the poorer countries would be the most badly hit. In the first year, their national income could plummeted by 40 to 50 percent, while unemployment throughout Europe could exceed 15 percent, minister Rostowski warned. (kk/pg)

source: PAP, AFP