Cash Crisis: If Schengen Goes, the Euro is Finished, Warns Merkel

‘The success of Europe’s single market and currency is dependent on the survival of the Schengen Area, German Chancellor Angela Merkel said on Monday, remarking that the EU is “vulnerable” due to a lack of control of migration.

“We are vulnerable … because we do not yet have the order, the control, which we would like,” Merkel told an economic forum in Mainz, German newspaper Die Welt reported.

The Schengen Area is supposed to guarantee freedom of movement for people and goods between all but six of the 28 EU member states without border checks.’

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