The euro currency has proved to be a pole of confidence and stability, Bank of Greece (BoG) governor George Provopoulos said in an article appearing in a Sunday newspaper, on the occasion of the 10th anniversary of the introduction of the euro as the single currency of the EU member states participating in the Economic and Monetary Union (EMU).
Without the euro, the central bank chief continued, the countries that have adopted the common currency would have been exposed, in the present global financial crisis, to serious turbulence, as had occurred in 1992 and 1993.
In his article, appearing in the Sunday edition of Kathimerini daily, the utilization of the flexibility elements contained in the Stability and Growth Pact, in the present conjuncture, could contribute to the stabilisation and also to the recovery of the European economy.
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