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Goldman: Euro could split apart
Jim O’Neill, whose division manages more than $800bn (£500bn) of assets, said that countries as diverse as Portugal, Ireland, Finland and Greece could pull out of the single currency rather than have to operate under a single eurozone treasury. Yesterday, Angela Merkel, the German chancellor, said the market turmoil could last for a decade and there was still “a chunk of work” to do. “The Germans want more fiscal unity and much tougher central observation – with the idea of a finance ministry,” Mr O’Neill said in an interview with The Sunday Telegraph. “That will emerge for those that want to stay in ... (full story)
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