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How incompetent can a E.U. Commissioner be ?...there he goes : Olli Rehn, the European Commissioner for Economic and Monetary Affairs, is calling for quick decisions for the solution of the financial crisis affecting the eurozone. Speaking in Helsinki on Thursday, Rehn said that slow movement will not work. “Ahead of us we have either the slow disintegration of the entire eurozone, or the strengthening of the economic and monetary union.” According to Rehn, plans to increase the lending capacity of the European Financial Stability Facility (EFSF) is in its final stages, and decisions could be forthcoming already next week at a meeting of the economic ministers of the eurozone. - The EU treaties that created the euro and set its membership rules contain no provision for members to leave, meaning any break-up would be disorderly and potentially chaotic. If eurozone governments defaulted on their debts, the European banks that hold many of their bonds would risk collapse. Some analysts say the shock waves of such an event would risk the collapse of the entire financial system, leaving banks unable to return money to retail depositors and destroying companies dependent on bank credit. The Financial Services Authority this week issued a public warning to British banks to bolster their contingency plans for the break-up of the single currency. Some economists believe that at worst, the outright collapse of the euro could reduce GDP in its member-states by up to half and trigger mass unemployment. Analysts at UBS, an investment bank earlier this year warned that the most extreme consequences of a break-up include risks to basic property rights and the threat of civil disorder. “When the unemployment consequences are factored in, it is virtually impossible to consider a break-up scenario without some serious social consequences.”