The euro could disappear in 10 years: BlackRock CEO

Tuesday, 12 Nov 2013 | 2:24 PM ET
Fink: Can't have euro without strong France and Germany
Tuesday, 12 Nov 2013 | 1:13 PM ET
BlackRock's CEO Larry Fink airs concerns about the U.S. and Europe at the New York Times DealBook Conference. CNBC's Kate Kelly reports the latest from the conference.

The euro could be in danger of disappearing within the next decade if France does not continue pushing economic reforms, BlackRock Capital boss Larry Fink said Tuesday.

Fink expressed his concern about the health of one of Europe's largest economies at The New York Times's DealBook Conference, mentioning France's recent downgrade by Standard & Poor's.

"I don't think in 10 years time we can have a euro if we don't have a strong France and a strong Germany," he said in an interview shown on CNBC. "It's all predicated on two very strong countries and the competitiveness of France is still deteriorating."

France is vulnerable to many 'shocks': Pro
Maxime Alimi, Euro area economist at AXA IM, says that the French credit downgrade is "justified".

Fink also said he wants the Federal Reserve to start tapering its asset buying program as soon as December, and that he expects emerging markets to drop 12-15% in the near future.

(Read more: Why the euro is the worst currency in the world right now: Strategist)

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