‘Moment of truth’ for the euro, says former BoE deputy governor

Member governments of the 16 eurozone countries are likely to deepen their political integration and richer members, such as Germany and France, will make increasing efforts to iron out their differences to prevent any of the troubled peripheral economies from falling out of the single currency block, according to John Gieve, former deputy governor of the Bank of England.

Gieve, who served at the bank from 2006 to 2009 as deputy governor for financial stability, said on Thursday during a

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