Eurozone breakup 'out of the question'

BRUSSELS - Former Bundesbank President Helmut Schlesinger said the euro's slide hasn't left it at an unnaturally low level and the breakup of Europe's 16-nation currency union is out of the question.

"The euro isn't in danger," said Schlesinger, who ran the German central bank from 1991 to 1993. While the pace of the currency's decline "did give cause for concern," its level "is by no means catastrophically low," he said.

Europe's single currency has plunged about 20 percent against the dollar in six months as Greece's budget blowout undermines confidence in other indebted nations such as Portugal and Spain, fueling speculation the monetary union could splinter.