French President Nicolas Sarkozy insists Europe will never give up on the euro, despite widespread fears for the currency's future.
Economists have voiced concerns that ongoing debt crises in Greece, Ireland, Spain and Portugal could spell the end of the single European currency.
But in an address to the World Economic Forum in Davos on Thursday, Sarkozy made clear he believes the euro will survive despite its current difficulties.
"We will never abandon the Euro. Never! "Euro spells Europe, the euro is Europe. Europe has meant 60 years of peace on our continent. We will never abandon that."
"The consequences of the euro failing would be so cataclysmic, we can't even imagine them, we can't even play with this idea."
And he had a warning for currency speculators and those apparently keen to see the euro's troubles continue.
"For those who wish to wager against the euro: Be careful how you invest because we are determined."
Sarkozy also took on the U.S., telling his "friends across the Atlantic", that despite the U.S. dollar's status as the world's dominant currency, the country did not have the right to make all the rules.
"Nobody wants to weaken the dollar -- the world needs the dollar. The dollar is there, it will continue to be the world's dominant currency.
He also said it was "madness" that Africa, South America and India did not hold a permanent seat on the U.N. Security Council, "this doesn't make any sense."
