Browse By

Europe is on the brink of collapse economically and socially

THE European Union is on the brink of imploding, destroying the Euro and causing economic doom, according to a Nobel Prize winning economist.



Joseph Stiglitz thinks Brexit changed the face of the Eurozone, leading to overt criticism of the common currency and making the overall break-up of the Union more likely.

Italy could prove to be the next nation to leave the Brussels bloc, according to Mr Stiglitz, a former chief economist at the World Bank and senior advisor to president Bill Clinton.

The country’s banks are weighed down by more than £300billion of bad debt but cannot be bailed out under EU rules unless creditors take a financial cut first.

Embattled prime minister Matteo Renzi says he will resign if he loses the October referendum on constitutional reform, which could allow the anti-establishment Five Star Movement, which has promised the public it will hold a vote on whether or not to remain in the Euro.

The expert says an “amicable divorce” must be considered to avoid a “political cataclysmic event like Brexit”.

In his new book, ‘The Euro: How A Common Currency Threatens the Future of Europe’ Stiglitz also advises Germany and Greece should pull out as member states.

Mr Stiglitz said: “In other words, the Eurozone’s member countries are democracies and one sees increasing hostility to the Euro, which is unfortunately spilling over to a broader hostility to the broader European


Click here for the Top 12 Moments in Jewish History...LET THE ADVENTURE BEGIN! »


Join the over 1.4 million fans of Jews News on FB…It’s NOT news unless it’s Jews News!

Powered by WordPress Popup