Peter Bofinger Quotes

The euro ceases to exist the moment that France leaves.

It is the entire euro zone system which is under threat at the moment, not just a few small countries anymore... Our euro is under threat. The changing situation needs a quick and immediate reaction.

When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.

The bottom line is that the euro is a failed experiment.

I think as a business it would be amazing if the euro was to collapse, but financially and economically I think that would be a bit of a tsunami for everybody to cope with.

If we don't all leave the euro behind, it will explode. Either there will be a popular revolt because the people no longer want to be bled out. Or the Germans will say: Stop, we can't pay for the poor anymore.

The euro is going to be a big source of problems, not a source of help.

The current Eurozone is obviously dysfunctional. And serious people within Germany and elsewhere know this to be the case and know things cannot function this way forever.

The uncontrolled increase of the euro rate vis-a-vis the dollar threatens employment growth in the euro area.

If I had political responsibility, I would want to prepare for a plan B that would foresee that the European currency union, that the eurozone, no longer necessarily consists of 17 member states. And that means to make provisions so that other countries are not pulled into the maelstrom through contagion.

The most pressing and significant problems in the global economy are unsustainable structural issues with regard to the E.U. - fiscal deficits and the structure of the E.U. itself.

I described the euro as a burning building with no exits and so it has proved for some of the countries in it.

When the franc was in danger of collapsing in 1956, it was the Americans who propped it up and their reward was to be insulted and swindled on the streets of Paris. I was there. I saw it.

I think that France has not made it clear enough recently to our German friends how important it is to introduce euro bonds as a tool against speculation. And how the necessary budget discipline needs to be accompanied by growth.

If stocks double but the dollar loses half its value, who beyond Wall Street are the winners and losers?

Giving Northern Europe a veto over Southern Europe's budgets will not hold a monetary union together. The euro zone will continue to need the weaker countries to stomach decades of high unemployment to grind down wages.

The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

Many have wondered if Greece's economy would get so bad that it would eventually break away from the Eurozone - a move that could encourage other countries to follow and therefore splinter the currency union.

In all Sovereignties in Europe where Paper-Money was introduced, great Inconveniencies happened; upon canceling this Paper Medium all those Inconveniencies did vanish

When monetary policy destroys the currency, it always destroys the middle class.

Americans have seen the value of the dollar slowly decline due to the steady erosion of inflation.

The dollar has lost over 90 percent of its value since the Fed was created.

The euro has become a means by which superior German productivity is able to gain an absolutely unbeatable advantage over the whole eurozone territory.

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.