BLBG:Merkel Adviser Bofinger Sees Six Months to Save Euro, WiWo Says
The future of the euro will be decided in the next six months and the joint currency has “no future” unless Germany changes its stand, Peter Bofinger, a member of Chancellor Angela Merkel’s council of economic advisers, was quoted as saying by Wirtschaftswoche.
While measures agreed to by European policy makers will take one to two years to enter into force, the European Central Bank could help by setting a cap for the long-term yields on Italian and Spanish government bonds, the Dusseldorf-based magazine quoted Bofinger as saying in an interview released today to other media ahead of publication.
To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net
To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net
