The euro zone can be divided into north and south - one of the leading economists of the world
European Monetary Union, according to one of the greatest economists of the world, winner of the Nobel Prize in Economics Dzhozefa Stiglitsa 2001, waiting for the collapse.
According Dzh.Stiglits, the euro may fall apart in the next few years due to a lack of determination and solidarity of the member countries, the "Deutsche Welle". "I am concerned about the speed with which decisions are carried out in Europe"- he said in an interview with US economist Die Welt newspaper. According to him, politicians agree on what should be done, but then their solutions are blocked, the implementation is delayed, the time is lost.
Dzh.Stiglits believes that it is necessary to carry out radical reforms, for example, create a banking union or a common deposit insurance system. However, he does not think that the policy may in the long run to keep monetary union afloat. "After 10 years, the euro area will still exist, but the question is - in what form? It is highly unlikely that it will continue to be composed of 19 members", - predicts the former chief economist of the World Bank.
In his opinion, only by separating the single European currency on the northern and southern euro can give new impetus to paralyze the economy of the continent.
As an example cited Dzh.Stiglits Italy: "When I talk with the Italians, I feel that the people there are more and more disillusioned with the euro". Scientists and politicians in the country is also becoming increasingly clear that Italy is the euro dysfunctional, says the economist.
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