Economist warns over euro currency

Respected European economist Paul de Grauwe has warned of the euro's collapse unless there is progress towards political union.

Paul de Grauwe of Belgium's Catholic University in Leuven is warning the euro is bound to collapse in 10 to 20 years because there is no clear movement toward political union in Europe, the EU Observer reported on Monday 24 April.

Last week a new member of the European Central Bank's board, the German Bundesbank's vice president, made similar comments.

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