Question on the Euro collapse scenario.JULY 2010:
Andrew Brons has submitted this written question to the European Commission regarding the ongoing strains in the Eurozone and its possible collapse.
Markets often develop an ominous momentum during the summer months when everyone, including politicians, are on holiday.
The MEP for Yorkshire and North East Lincolnshire asks:
"Given the perilous conditions within financial markets, the fundamental economic and fiscal immbalances in the PIIGS countries, the debt crises within those
countries and their short and medium term economic prospects - within the backdrop of recession - will the Commission kindly advise:
1. What representations it has made to the Monet Professors in respect of the crisis above and the related future for the Euro.
2. What advice and representations the Monet Professors have submitted to the Commission with regard to the same.
3. Will the Commission kindly confirm rumours that it has drawn up contingency plans for the collapse of the present Eurozone area and the nature of those plans.
4. Will the Commission finally advise the internal discussions it has held relating to the damage a collapse to the Eurozone will create in terms of the prospects for 'ever closer union' and the dire public relations disaster that will ensue."
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