Euro will be dead in five years: experts
LONDON: The euro will have broken up during next five years, according to the bulk of economists taking part in a wide-ranging economic survey for a local newspaper.
The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey – the first major wide-ranging litmus test of economic opinion in since the election.
Of the 25 leading economists who took part in the survey, 12 predicted that the euro would not survive in its current form this Parliamentary term, compared with eight who suspected it would. Five declared themselves undecided.
The recent worries about the euro’’s fate followed the creation last month of a $1 trillion (£691bn) bailout fund to prevent future collapses. Although the fund boosted confidence initially, investors abandoned the euro after politicians showed reluctance to support it wholeheartedly.
