Top European banker warns on danger of a stock market collapse as euro is branded a ‘giant historic mistake’

Step Aside BBC "Trader": Head Of UniCredit Securities Predicts Imminent End Of The Eurozone And A Global Financial Apocalypse

A top European banker yesterday warned that the region faces a fresh wave of panic as the single currency was branded ‘a giant historic mistake’.

It came as Kenneth Rogoff, a professor of economics at Harvard University in the US, said the creation of the one-size-fits-all euro was ‘a giant historic mistake’.

‘Giant historic mistake’: Kenneth Rogoff, a professor of economics at Harvard University, has hit out at the creation of the one-size-fits-all euro ‘Giant historic mistake’: Kenneth Rogoff, a professor of economics at Harvard University, has hit out at the creation of the one-size-fits-all euro He said one of the main risks facing Europe this year was the European Central Bank’s review of the assets of 130 lenders in the eurozone.

Rogoff, one of the world’s leading economists, said that Europe was ‘becoming more stable’ but warned that youth unemployment in the region ‘is really horrific’ with more than half of under-25s in Greece and Spain unable to find work.

Giuseppe Recchi, chairman of Italian energy firm Eni, said: ‘The recovery in Europe is based only on the possibility that Europe becomes the most attractive place for a company to locate.’



Categories: Business

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