The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday.
Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ‘sticking plasters’ to cover the deep- seated flaws in the eurozone bloc.
The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone.
Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France – a core founder-member.
The European socialist model is failing rapidly, so our “elites” in Washington want to jump on that bandwagon and make the US more like Europe.
Gee, what a great plan.
The difference right now is that as weakened as we are right now by the economic crisis and blundering Obama economic policies that are further damaging us, Europe can dump the Euro and buy Dollars.
What are they going to do when we join them in the collapse? Where do you run when it all falls apart?