Mr. Stanley Fischer, Vice Chair of the Board of Governors of the Federal Reserve System, at the ECB Forum on Central Banking conference "Inflation and Unemployment in Europe", Sintra, Portugal, 21 May 2015.
He also stated : (excerpts only here)
"Also awaiting the EU are the possibilities of major difficulties associated with the current Greek crisis and, later, with a potential British exit. "
"One can of course imagine many different types of future crises, including crises that could develop out of the worsening geopolitical situation in which the Western world finds itself. "
"That means that the most important challenge of the future will require an increase in productivity growth in Europe - and that is a challenge that faces the entire developed world."
Our Comment: Coming from the Vice Chair of the Fed, it seems to raise rather than dispel more doubts on the future of Europen monetary union. Straight plain speak on a Europe which appears in disarray.
Note: The Speaker has stated that " views expressed are my own and not necessarily those of others at the Board, on the Federal Open Market Committee, or in the Federal Reserve System."
Without any risk or responsibility
Note: The Speaker has stated that " views expressed are my own and not necessarily those of others at the Board, on the Federal Open Market Committee, or in the Federal Reserve System."
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