A vowel away from disaster

Series Title
Series Details 26/09/96, Volume 2, Number 35
Publication Date 26/09/1996
Content Type

Date: 26/09/1996

Economics Commissioner Yves-Thibault de Silguy turned up in Dublin for last weekend's informal meeting of EU finance ministers with his Freudian slip showing.

The day before the Ecofin meeting got under way, De Silguy made a speech in English to economists and lawyers in the Irish capital and declared dramatically: “Monetary union will be a millstone for the European Union.”

Let's just try that one more time, Commissioner, shall we, with a little more concentration on the accent?

De Silguy started again: “Ahem. Monetary union will be a MILEstone for the European Union.” Phew, that's better.

What a difference a vowel sound can make - financial crises have been sparked by less.

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