Euro Not In Crisis, Says German Envoy

KUALA LUMPUR, Feb 16 (Bernama) -- German ambassador to Malaysia Dr Guenter Gruber has defended the euro currency, saying it is strong although its growth has been an issue. "There is no euro crisis, the euro is a strong currency. It's only a young baby, 10 years old. "So we have growth problems, but it has appreciated more than 50 per cent since its inception. "In my book that's not a bad investment," he told the media after a briefing on investment prospects around the Brandenburg Economic Development Board (ZAB). Gruber said Germany would do whatever it can to ensure that the euro will have the same number of member states that it has now. "It's a difficult, trying time but we are determined and Germany, more than most countries, may be able to help, and we will do it because we always have benefited from it," he said. He added that although it is a "very difficult political process", the European members are on the road to finding a solution. "It will take some time but all the instruments are in place. I'm confident when we meet again in a year, we will not talk about the euro crisis but crisis of European member states," he said. Gruber said the situation is also true for Germans' investment in Malaysia. "German investors will not leave the country when there's a downside, we will stay the course. "It's the same with the euro," he said, adding the euro has a great future. "It will survive and would become stronger out of it. All the investors have the benefit of having a huge internal market who pay in one currency and that's fantastic," he said. -- BERNAMA