The former head of the Bundesbank has cast doubt on the future viability of the euro if countries do not follow Germany in imposing structural reforms to boost their longer-term growth rates.
Calling the probable introduction of quantitative easing by the European Central Bank on Thursday as “only part of the fix”, Axel Weber, now the chairman of UBS, said there were legitimate questions hanging over the viability of the single currency.
If countries do not reform, he said: “I think there will always be questions about the viability of the project and Europe has not done enough to dispel these concerns.”
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