Sep 13

Pressure on currency and fears of its demise mount after Dutch government’s bombshell


NEW RULES: Dutch finance chief Jan Kees de Jager

Euro exit could cost €45,000 for each family (Irish Independent, Sep. 11, 2011)

THE cost of Ireland leaving the euro could be as much as €45,000 per family in the first year, according to research report for clients of giant Swiss investment bank UBS.

The threat of a break-up of the euro mounted last week when the Dutch prime minister, Mark Rutte, and his finance minister, Jan Kees de Jager, dropped a bombshell by suggesting that countries that persistently break eurozone budget rules should be chucked out of the currency. With the latest Greek bailout deal on a knife-edge, the possibility of Greece leaving the euro has increased dramatically in recent weeks.

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