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Otmar Issing – European Central Bank Board, 1998 – 2006

Shaun Ley in conversation with Otmar Issing - does he think the euro can be saved?

Can the euro be saved?

Europe's leaders think so; its central bank says there's no limit to the money it's prepared to spend to defend it.

But is their solution in danger of destroying not just a currency but Europe's union, too? Otmar Issing fears so.

As one of the most senior officials when the European Central Bank was founded, he helped bring the euro into being.

Until this year he advised Germany's Angela Merkel and he remains one of Europe's most influential economic voices.

When the euro was being planned, Otmar Issing believed that political union was essential.

Now he fears that centralising power in Brussels and Frankfurt and sharing financial risk could provoke a public backlash that would wreck both the currency and the continent.

23 minutes

Last on

Tue 2 Oct 2012 01:05GMT

Broadcasts

  • Mon 1 Oct 2012 08:05GMT
  • Mon 1 Oct 2012 12:05GMT
  • Mon 1 Oct 2012 15:05GMT
  • Mon 1 Oct 2012 19:05GMT
  • Tue 2 Oct 2012 01:05GMT

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