BUSINESS

Volcker: Euro Risks 'Disintergration' After Greece Crisis

07/14/2010 05:12 am ET | Updated May 25, 2011

May 14 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker said he's concerned that the euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region's members.

"You have the great problem of a potential disintegration of the euro," Volcker, 82, said in a speech in London yesterday. "The essential element of discipline in economic policy and in fiscal policy that was hoped for" has "so far not been rewarded in some countries."

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