German MP urges unity in euro zone

German MP urges unity in euro zone

With Asia growing steadily, it is even more important for the euro zone to remain intact in order for the bloc to maintain its relevance in the future, says Michael Fuchs, a member of the German parliament.

Unlike billionaire investor George Soros, who advocates Germany's exit from the euro zone, Mr Fuchs said it is necessary to form a united Europe.

From 1950-1955, the world population totalled 2.5 billion, with 500 million living in Europe. Now the figures are 7 billion and 500 million respectively, which shows how the relevance of Europe has lowered to a large extent, he said.

"It's necessary that we try to get closer to Europe, especially when Asia is picking up. And if we have a common currency, it will be easier to unite. An individual country in Europe is too small and incapable of being relevant in the future," said Mr Fuchs, who is also vice-chairman of the CDU-CSU parliamentary group.

Speaking at the German Embassy, Mr Fuchs said Germany, Europe's largest economy and the world's second-largest exporter after China, can be a role model for other countries because it has already come out of the crisis.

"Next year, it's possible we will not have any new debt for the first time in 42 years, provided we have the same government," he said.

Although he believes Europe has a lot of potential and it will come out of the crisis stronger than before, he expressed concern for France, as the country has done close to nothing in terms of reforms.

"Each country can only be successful if they are competitive in the world," he said. "When I was young, everyone was keen on driving French cars. Today you can hardly find French cars anymore in Germany, which is a sign that the French industry isn't competitive anymore. That's the reason we have to push France. But the socialist government is pushing in the opposite way.

"We also need Britain to stay in Europe, and we need to talk to them to work it out. Without Europe, Britain is going to have some problems."

Speaking on the issue of Asean integration, Mr Fuchs said that although integration is good, countries have to keep a certain amount of individuality. Meanwhile, a common currency policy has to ensure all countries are on a fiscal or financially even level.

"It does not make sense if one country is higher in financial terms," he said.

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