Saturday, November 5, 2011

A Single Everything

Rahmi Koc is the patriarch of the $12 billion Koc Holding - - one of Turkey's top industrialist.  Charlie Rose recently ask Koc his prediction on the euro.  This was his response:

"Europe has no chance but to make the euro survive - - I can't even imagine or think of restructure in my mind how it would be if they went back to their original currencies.  But when you have a single currency, you have to have a single everything.  If you don't have a single flag, single foreign policy, single economic policy, single monetary policy, it's very difficult to have a single currency because the countries that are not economically in good shape cannot devalue."

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