EU Reding: Euro Critics Seek To "Destabilize" Europe Mkts
Thursday, 8 September 2011
BRUSSELS (Dow Jones)--European Commission Vice President Viviane Reding Thursday launched a thinly veiled attack on U.K. and U.S.-based critics of the euro zone, saying they "try to destabilize the markets in Europe" in a bid to avert problems in their own countries.
In a speech in Helsinki, Reding said some "do not like" the fact that the euro is a global currency.
"They are the same who wanted the euro dead before it was born. They are the same who try to destabilize the markets in Europe in order to divert the attention away from deep budgetary and monetary problems in other continents. We should not fall into this trap because the euro is our currency and it is a strong currency," she said.
Reding argued that the euro zone was putting in place strong anti-crisis measures including the temporary bailout fund, new supervisory agencies and tighter fiscal and economic surveillance.
And she said that despite the deep debt crisis of the past two years, the euro has led over the past decade to "an unprecedented period of benefits."
She cited as evidence of the euro's strength the decision by Swiss authorities this week "to peg the Swiss franc to the euro."
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