Euro Will Fail Without Fiscal Harmonization, Fischer Tells Bild

The European single currency will fail unless governments harmonize economic and fiscal policies, Bild am Sonntag reported, citing former German Foreign Minister Joschka Fischer.

“The situation in Europe really is as serious as never before,” the newspaper quoted Fischer as saying in an interview published today. The political, economic and financial consequences of a failure of the single currency “wouldn’t be controllable,” the newspaper quoted Fischer as saying.

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