Euro “Will Collapse” As Is “House of Cards” Warns Founder of Euro

The Euro “will collapse” as it is a”house of cards” warned Otmar Issing, the founder and creator of the euro in an extraordinary interview on Monday.

Paper currency – Euro paper notes and Greek drachma note

In the explosive interview with the journal Central Banking, Professor Issing, said “one day, the house of cards will collapse”  as the European Central Bank (ECB) is becoming dangerously over-extended and the whole euro project is unworkable in its current form.

The founding architect of the monetary union has warned that Brussels’ dream of a European superstate will finally be buried amongst the rubble of the crumbling single currency he designed.

“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,” he told the journal Central Banking in a remarkable deconstruction of the EU project. Read full story…