• Home  / 
  • Economics
  •  /  Collapse Of The Euro Is ‘Inevitable’ : Bailing Out The Greek Economy Futile, Says French Banking Chief

Collapse Of The Euro Is ‘Inevitable’ : Bailing Out The Greek Economy Futile, Says French Banking Chief

February 15, 2010

The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday.

https://www.pachd.com/free-images/household-images/five-euro-bill-01.jpg

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ‘sticking plasters’ to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone.

Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France – a core founder-member.

About the author

ewingsc


%d bloggers like this: