The Euro is finished and the EU's collapse will bring economic disaster to the world, warns professor Otmar Issing, who is the man behind the euro.
The Euro is a ticking time bomb which will soon blow up and wipe out the whole EU project in its wake, the currency's creator has said in an extraordinary warning today, according to the British newspaper Express.
In an explosive intervention professor Otmar Issing predicted that Brussels' dream of a European superstate will finally be buried amongst the rubble of the crumbling single currency he designed.
The respected economist launched a withering attack on eurocrats and German leader Angela Merkel, accusing them of betraying the principles of the euro and demonstrating scandalous incompetence over its management.
And he savaged the whole idea of a United States of Europe, saying the attempt to push through federalisation by the back door had churned the ground the currency was built on into a quagmire of patchwork legislation, into which it is fast sinking.
Prof Issing's extraordinarily brutal attack should act as a sharp wake-up call to European leaders who have pledged to accelerate the process of ever-closer integration after Britain leaves the bloc.
And it will put the world on alert of an impending economic catastrophe, with the predicted collapse of the Euro likely to spark a cataclysmic chain of events for financial institutions across the globe.
Prof Issing blasted: "One day, the house of cards will collapse. Realistically, it will be a case of muddling through, struggling from one crisis to the next.
"It is difficult to forecast how long this will continue for, but it cannot go on endlessly."
In an extraordinarily candid outburst he rounded on Europe's leaders, saying their incompetence had created an "overwhelming moral hazard" which could bring generations of misery to hundreds of millions of ordinary Europeans.
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