17/08/2012
Picking up on Ambrose's
Finland story,
Handelsblatt now
headlines that Poland
also warns against [the consequences of] a collapse of the euro-zone.
What is wrong here is the "also". Finland, in the form of Erkki Tuomioja, has not actually warned about a eurozone break-up. Unfortunately, the paper
has relied on a wildly inaccurate report in
Reuters (now withdrawn), rather than the
Failygraph original, which wrongly attributes a quote from Timo Soini, the True Finn leader, to Tuomioja.
Despite that â if correctly reported â the Polish report stands up on its own, having the country appealing to the eurozone members to prevent a collapse of the monetary union.
The debt crisis is the biggest crisis in Europe since the Second World War, Polish finance minister Jacek Rostowski (pictured) is cited as saying after a meeting with German economics minister, Philipp Rösler, in Warsaw.
This endangers not only the eurozone countries, but the entire EU, Rostowski says: "A break-up of the eurozone has catastrophic consequences for all European countries". The world economy would suffer damage and this dangerous situation would have political as well as economic consequences, he adds.
In response, Rösler is cited as saying: "We agreed that we must do everything we can to stabilise the eurozone," Germany is aware of its responsibility. But, he added: "There can be no solidarity without responsibility ⦠We call it: no power without compensation".
Here, Rösler is very much on-message with his chancellor, but it is worth noting, after
recent statements from the vice-chancellor, that he is regarded by
Die Zeit as something of a busted flush.
Philipp Rösler, it says, is the failed president of the FDP and within the party the question is no longer whether he can hold the key position but when he will step down. With Rösler leading the FDP, the conviction among most liberals is that their party will not get any seats in the
Bundestag elections in 2013.
A conversation between Rostowski and Rösler, therefore, may not be of earth-shattering importance, especially as Poland still holds to its intention to join the euro "as quickly as possible" - albeit only if the debt problems are resolved. But, at least, it adds to the corpus of discontent, which is no bad thing.