Famous
Eurosceptic Joseph Stiglitz suggested there will be disaster across
the bloc, with the euro causing havoc in several member states.
Nobel prize
winning Mr Stiglitz served as a feather-ruffling chief economist for
the World Bank. Despite Brexit scaremongering being rife across the
UK, Eurosceptic Stiglitz has suggested the real tough times will be
for the union.
His book How
to Save the Euro suggests, on its current course, the euro is certain
to fail — and indeed, that it was fatally flawed from birth.
Mr Stiglitz
points out the Euro's fixed exchange rate and a single interest rate
for its members, which means countries must forgo the option to
devalue in times of economic weakness. This danger - he predicts -
will be its downfall.
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