Fox Business
Expand
Browse All Video
Watch Live

You're watching...

EU Banks Examine Resuscitating Currencies

Details

  • Description

    FBN’s Adam Shapiro breaks down whether Europe will consider bringing bank old currencies.

  • Duration 2:00
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Corzine in a moment but some European central banks making it that's right contingency plans to try to make contingency plans if the EU which is to completely break apart and -- doing now.

Starting off doing at least is.

Focusing on how to bring back bring back to life some old currencies get -- the bicycle pump you -- -- -- -- that its -- covering this story.

Had a.

Yeah this is the front page Wall Street Journal today talking about how the Central Bank in Ireland is actually looking at securing printing presses in case they choose.

To go back to the Irish town just contingency plan should the eurozone break apart take a look we we decided to show you who -- the seventeen countries are.

What are the seventeen countries -- -- the countries were talking about there they are the seventeen countries in the Euro zone roughly 23 countries which use.

The euros some of the countries using the the Euro like -- don't have full.

Membership within the zone.

But what happens should the Euro zone break apart I actually called Nile Gardiner over at -- Heritage Foundation he was telling me.

That this could happen within a matter of weeks she would see and he expects by the way he said the Euro -- will break apart.

In the first half of 2012.

And you'll see countries revert to their older currencies.

Within a matter of weeks the question that he can't answer that no one can answer is what happens to the value of all those euros and all those European banks are already seeing people in Greece pulling their euros out.

Some of them -- buying US dollars they're buying Swiss francs they're buying British pounds trying to protect the value of their assets.

The upside he said is the US economy you'll see all this money perhaps flowing the United States is people by US dollars.

In an attempt to protect their assets but the bottom line is at least from.

Men who used to be an aide to Margaret Thatcher.

Nile -- saying the Euro -- will break apart.

And those countries will go back to their old currencies.

Potential good news in all of any of this is that I might have a few old Irish pounds -- on the house from trip I've got a few Spanish pesetas trial and I lived in Madrid so we might be in business there thank you have.

Load More