Gordon Brown fears about Euro stability in 2011

Gordon Brown fears about Euro stability in 2011

Weak Signal's progress: fully-fledged

This Weak Signal came from: 
Lawmakers/legislators

The source of this Weak Signal: 
Former British Prime Minister Gordon Brown (as reported by BBC)

When did the Weak Signal manifest ? 
2005-now

Weak Signal's description 
BBC reports that Former British Prime Minister Gordon Brown has said that the euro's problems were bigger than just its governments' debts. Europe must also solve the euro's structural rigidities and the enormous debts of its banks, he warned. Europe's banks - including the UK's - faced massive liabilities and had inadequate capital to absorb losses, he said, creating the risk of a Europe-wide banking crisis. The warning echoed complaints by Irish opposition politicians that their country had been strong-armed by Brussels into footing the bill for rescuing the Irish banks, because failing to do so could have sparked a wider European banking crisis. Mr Brown also said that the structural reforms needed to make the euro work as a single currency area had not been carried out, or even agreed.