Portugese President Silva: "The Euro will survive"
Portuguese President Anibal Cavaco Silvo talks at the stakeout camera at the White House, after meeting with President Obama in the Oval Office.
November 9th, 2011
06:00 PM ET

Portugese President Silva: "The Euro will survive"

President Aníbal Cavaco Silva of Portugal stopped outside the White House today to take a few questions from both U.S. and Portuguese reporters following a bilateral meeting in the Oval Office with President Obama.

Asked to predict the future of the Euro, President Silva offered a defense of countries that have been hit strongest with “financial difficulties” and said that fault lies with the EU government, not the countries themselves. Although he did not specifically cite Portugal in his answer, Silva’s country is often grouped in with Italy, Greece and Spain as an EU member facing a potential debt crisis.

Here’s what the president said:

European integration has been a great success, and there are many countries which want to be members of the European Union in the future. And the Euro Zone is a crucial compliment of the European integration. This is an important asset of Europe to face the challenges of the future. I am convinced that at the end of the crisis we shall have a stronger European union and the euro will be a strong world currency. ...

Now there is a problem and the problem is related to a failure in the surveyance by European institutions of the budgeting situations of some member states. It's wrong to blame just the countries with financial difficulties because for many years the commission and the consulate ministers have not done their job. They were supposed to accompany the excess deficit situation of member states. But they complied with the situation. It was called peer pressure. So – they were good friends. So they let the situation continue and now we are correcting that situation. So this movement was an economic union implies a strong surveyance forcing countries to comply in full with their obligations, keeping budgetary situations within the margins, which are in the treaty.

Silva ended by proclaiming confidently, "The Euro will survive."

Topics: Stake Out

soundoff (7 Responses)
  1. Disciple

    It will survive.. as a one world currency.
    Jesus is Lord, He is coming to call up His faithful church. Put your trust in Him for only He can save souls.

    November 9, 2011 at 6:44 pm |
    • Killing_Flies

      Disciple is Liz Carter. Jesus told me so.

      November 10, 2011 at 11:15 am |
      • steveo

        @killing flies,

        I'm a Christian too and as such, I am also (a) Disciple! Since the word means follower or student, you can count me in! I'm not sure if you realize but your post is actually a compliment, so thanks!

        November 10, 2011 at 1:27 pm |
  2. Liz Carter in Georgia

    I know you are right..Disciple! Thank you for that truth! It looks like we as the human race have been broken down and lost our ways in this physical world. We may need to be focused FULLY now on Jesus Christ...The Real Messiah. All we have left is our souls...HE WILL SAVE OUR SOULS.

    November 9, 2011 at 6:58 pm |
  3. Anthony

    or something like that...

    November 10, 2011 at 1:17 am |
  4. Liz Carter in Georgia

    Thankyou Steveo...you are my brother in CHRIST, when all else fails; and the one GOOD thing we DO have in perfect harmony is that we are not ashamed of HIM and we aren't afraid to claim him to the world. Even with all of our debating and sometimes just plain bickering, we do know this don't we? We know HE told us himself...If we denied HIM before men...then HE was going to deny us before HIS FATHER. We don't deny nor denounce him. THANK YOU AGAIN STEVEO!

    November 12, 2011 at 3:42 pm |
    • Steveo

      No problem Liz! You are so right! Politics aside, i know we can agree on our faith! You are quite welcome Liz!

      November 12, 2011 at 9:15 pm |