The eurozone is doomed and cannot survive in its current form, regardless of what happens to Greece, a major new study shows.
New research demonstrates that members of the single European currency are becoming more economically divergent, making a single rate of interest increasingly unsuitable for the bloc.
Political, social and cultural differences will also make it increasingly hard for the euro members to share a currency. Eventually, the eurozone will have to either “integrate or disintegrate”, the analysis says.
Echoing statements I have made many times, PIMCO says the single currency area must become a "United States of Europe" in order to secure its future.Please consider Eurozone can't survive in current form, says PIMCO.
Brussels (AFP) - The euro was supposed to be "irreversible", binding the EU ever closer, but the draconian terms demanded of Greece for a new bailout may have destroyed that illusion forever, analysts said Monday.
ATHENS/PARIS (Reuters) - An anti-austerity backlash by voters in Greece and France shook the euro zone on Monday, sending the euro currency and shares sliding on deepening doubts about the ability of Athens to survive in the single currency area. Greece, where Europe's sovereign debt crisis began in 2009, plunged into turmoil after a general election boosted far-left and far-right splinter groups, stripping mainstream parties that back a painful EU/IMF bailout of their parliamentary majority. ...