Jim O'Neill, chairman of Goldman Sachs Asset Management, has warned the need for German-led fiscal integration in the eurozone would make it increasingly difficult for all countries to stay in the single currency.
O'Neill, whose division manages more than $800bn (£500bn) of assets, said countries as diverse as Portugal, Ireland, Finland and Greece could pull out of the single currency rather than have to operate under a single eurozone treasury. "The Germans want more fiscal unity and much tougher central observation - with the idea of a finance ministry," O'Neill said in an interview with The Sunday Telegraph. "That will emerge for those that want to stay in this damn thing, or can stay in. "With that caveat, it is tough to see all countries that joined wanting to live with that-including t...
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