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Commodities  |  January 30, 2013 15:16:55

Investment Forum: Germany will not allow disintegration of the euro area

Greece's economic problems and the weak condition of Spanish or Portuguese economy in 2012 revived speculation about the departure of some countries from the eurozone. In the year 2013, but it did not have to be estimated by prominent Czech economists who participated in the third panel of macroeconomic Investment Forum in Prague, in cooperation with the Investment VSFS hosted website.

"Eurozone leaders seek to sustain the whole. There is a chain reaction that could lead to the disintegration of the euro area," repeats known fact Martin Kupka, principal analyst at CSOB. It makes no sense to conceal that eurozone countries are not equally powerful. Europe's largest economy - Germany - are dependent on exports.Therefore, according to David Navratil, chief economist at Czech Savings Bank, advantageous for Germany to keep the euro area together. "Germany just stick with the weaker countries in the league," comments Navratil.

Help in the fall?

Peter Budinský, rector VSFS, points out that Germany was until 2011 the strongest exporter of the world, even if it is a quarter of the economy compared to the United States. "Compared to him but exports have also declined," he says.

Export from Germany in recent years thanks to growing weak euro

Germany is waiting for the autumn parliamentary elections. As the main creditor of Greece will need - as well as other public creditors - to abandon some of their claims. "If Germany said they resigned to some of their claims, it is better to do more after the elections," says Knoll. The major developments surrounding Greece, then we will have to wait until September.

If after all the eurozone splitting occurred, it is clear that in the hard core will remain alongside Germany are Austria, the Netherlands and Belgium. "The Czech Republic would have belonged to this nucleus, we have decided to join the eurozone," estimates Kupka.According to him, but everyone afraid of what would happen if the process of splitting the euro zone occurred. Economy, according to him, could go up to 30 years. "It could create tensions and trade barriers."

Jaromir Shingle, chief economist at Citibank, hardly estimate how far the process of dilution of debt in the euro area can reach. David Navratil argues again that the eurozone is an artificial project. "Without a deeper integration does not survive long."

A complete record of the discussion panel of the Investment Forum, you will find here:

Eurozone crisis did not exceed, unemployment is a huge risk, but there are interesting investment opportunities
Eurozone crisis did not exceed, unemployment is a huge risk, but there are interesting investment opportunities

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