The European Union (EU) has moved beyond crisis mode and into crisis resolution, according to German Minister of State Michael Link, who spoke at Carleton Feb. 13.
“Doomsday scenarios of Europe’s future have not come true,” he said, but admitted problems are still being faced by the EU.
He said Cyprus, a country with a large but unstable financial sector, is currently being considered for bailout.
Cyprus will be tackled after the election and a new government is in office, he said.
“There cannot be any support without reform in the country proper.”
Link is currently the minister of state at the Federal Foreign Office and the commissioner for Franco-German Cooperation, according to a German government profile.
A minister of state in the German political system is a member of parliament who serves as an aide to a cabinet minister.
Link spoke to a European studies class in the Tory Building. The talk was open to the public, and several diplomats were also in attendance.
He said the recovery of the EU could be a long and costly process.
“Voters and the media expect there to be immediate results,” he said. “No, there will not be immediate results. It will take time, it will cost lots of money and there will be setbacks.”
“Crisis is always difficult, but when you share a currency it’s even more difficult,” he said.
The discussion was organized by Carleton’s Centre for European Studies, which recently won a European Union grant for nearly $500,000.
Crina Viju, academic co-ordinator at the Centre for European Studies, said she was happy the centre had received the EU grant. She said it was important the centre could hold such an event to look at the current situation in Europe.
