EU Architect’s Policy Institute Warns Of Impending Euro Collapse

Tuesday, September 20, 2016
By Paul Martin


Experts warn that if European policy makers fail to institute major changes to the monetary union of the EU, the system will not survive the next major financial collapse, according to a report by Jacques Delors Institute.

Jacques Delors was one of the chief architects of the euro and his policy institute released the report on September 19.

The report comes out at a time when even EU supporters caution against closer monetary union as a response to the June 23 Brexit vote, Reuters reports.

“Europe will be hit by a next economic crisis. We do not know whether this will happen in six weeks, six months or six years. But we fear EMU [European monetary union] will be ill-prepared for such a crisis,” the report states. The authors continue by acknowledging that, “reforming the euro might not be popular. But it is essential and urgent.”

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