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Introduction of euro was flawed: Fiat & Chrysler CEO

Tuesday, December 06, 2011 - 02:13

Dec. 6 - Fiat and Chrysler CEO Sergio Marchionne says the way the euro was originally implemented was incomplete, but plans by Germany and France to reform the currency might make it viable.

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Hello this is Paul Ingrassia with Reuters. We have an -- studio today in New York Sergio Marchionne who has been chairman and CEO of not one automobile company but to both Fiat and Chrysler. Sergio welcome. A lot of talk about. Starting with if you will but not a strictly automotive topic but the the crisis in the eurozone was certainly affect your operations especially via. What do you think is going to be the result of these negotiations the so called critical week. Ministers' meetings and presidential meetings would be for the Euro -- And I think the best word to describe this is the France and Germany caring now. Rule walls this thing from your original implementation of the Euro. Always felt that it was the introduction of the -- in the -- premature because the scheme wasn't completed. -- -- -- that they're now coming up with a sort of measures that would effectively you. Power to some part of the European. To ensure. The integrity of the financial system at all times because -- things it has been missing from. -- -- -- options. The par three effectively discipline them along for fiscal. Monitored from plus a budgetary discipline. On the picture of variety of things that are required to. Two deliver the certainty. That the Europeans. That the members of your opinions comply with -- the other numbers of read. Fukuda. And so. What I getting involved in details of what what needs to be implement that now these are all measures -- hopefully we'll do of the Euro. The bases on which this can regain this credibility in the international. So are you optimistic you cautiously guardedly optimistic. What. I. I'm guardedly. Optimistic I think that there is. Certainly a better than 50% chance. The European Union rules from the the record consensus to move on and that's important.

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Introduction of euro was flawed: Fiat & Chrysler CEO

Tuesday, December 06, 2011 - 02:13