EU can withstand Eurozone crisis

Friday, March 21, 2014

Former U.K. Foreign Affairs Minister reaffirms his confidence in EU and believes it will withstand the Eurozone crisis

Former U.K. Foreign Affairs Minister reaffirms his confidence in EU and believes it will withstand the Eurozone crisis

BURSA – The EU's roots have extended beyond economic and management cooperation, rendering a failure of the Eurozone unlikely, former U.K. Foreign Affairs Minister Jack Straw said.

Speaking at the “Uludag Economy Summit” held in Bursa, a western province of Turkey, Jack Straw said “Not only financial investments, also there are huge investments in the political area of the Eurozone.”

“There were many speculations circulating that the EU and Eurozone might collapse because of the Eurozone crisis. However, since it is still standing despite so much stress indicates that it will continue to exist.”

The Eurozone crisis has been affecting participant countries since early 2009 as some European banks asked for bailouts from EU.

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