Euro collapse ‘possible’
Euro collapse ‘possible’ amid deepening divisions over bail-out ; Ireland Finance Philip Aldrick,12:03, Tuesday 7 December 2010 "Euro collapse ‘possible’ amid deepening divisions over bail-out It is feasible that the euro will not survive the current sovereign debt crisis sweeping Europe, one of the Treasury s leading independent forecasters has said. Under questioning from MPs on the Treasury Select Committee, Stephen Nickell, a member of the Office for Budget Responsibility (OBR) and a former Bank of England rate-setter, said a collapse of the single currency was "a possibility". Asked more broadly about the sustainability of currency unions, he added: " The general consensus is that sooner or later they fail for one reason or another — but that doesn't mean to say it always happens. His comments came as deep divisions in the eurozone threatened to drive Spain, Portugal and Ireland into more difficulty. Attempting to defy Germany, the euro-zone's po...