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EUROZONE Brown: France, Italy Face Exits Tim Hales / AP Photo

Brown: France, Italy Face Exits

Europe’s common currency may become even more of a common liability, former British Prime Minister Gordon Brown cautioned on Friday. In a column published by Reuters, Brown wrote that countries like France and Italy, and not just nations with smaller economies like Greece and Portugal, may be forced out of the euro zone. “The standard, but often empty, language of summit communiqués will simply not do when the euro area is finally approaching its own day of reckoning,” Brown wrote. While some have said that the euro has resulted in two Europes, one embroiled in debt and the other carrying their burden, Brown disagreed. “Even German banks, which are some of the most highly leveraged, are not immune from needing more capital,” he wrote.

June 15, 2012 11:38 AM