SINGAPORE — Singapore has no plans to buy bonds from European countries facing a debt crisis, former Prime Minister Lee Kuan Yew said Wednesday.
Europe’s monetary union will eventually break apart into two or three separate tiers because of economic differences among the member states, Lee said.
“It’s going to be very painful because it’s an admission that one Europe is not achievable,” Lee said at a university forum. “You cannot expect the Greeks to march like the Germans.” Full story
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