Cash Crisis: If Schengen Goes, the Euro is Finished, Warns Merkel

Europe has to control its outer, not internal borders, and the very existence of the single currency depends on the survival of Schengen, the German chancellor said.

The success of Europe’s single market and currency is dependent on the survival of the Schengen Area, German Chancellor Angela Merkel said on Monday, remarking that the EU is “vulnerable” due to a lack of control of migration.

“We are vulnerable … because we do not yet have the order, the control, which we would like,” Merkel told an economic forum in Mainz, German newspaper Die Welt reported.

The Schengen Area is supposed to guarantee freedom of movement for people and goods between all but six of the 28 EU member states without border checks.

Romania and Bulgaria are currently in the process of joining Schengen and four states from outside the EU (Iceland, Norway, Switzerland and Liechtenstein) are also a part of the economic area.

Merkel said on Monday that Europe must better control its external borders in order to save Schengen and the single market; as the Eurozone’s largest economy, Germany must fight for the preservation of the single market.

Read more: http://sputniknews.com/europe/20160112/1032993757/merkel-save-schengen.html#ixzz3x22ay7kV

Source: Cash Crisis: If Schengen Goes, the Euro is Finished, Warns Merkel

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