Euro would very unlikely survive another crisis

According to 2001 Nobel Prize recipient Joseph Stiglitz, the whole “ill-conceived” euro area is about to vanish, deeply impacting Europe as a political project and confirming growing Euroscepticism which said that by denying economic differences between member countries, the Euro has prevented sound economic development except for most performing countries like Germany.

Stiglitz offered the creation of two euro areas, one for northern Europe and another one for southern Europe, but his idea which would prompt the dismantlement of the existing euro area in order to create two different ones sounds highly unrealistic.

Rather than waiting for its impending end, other pro-Euro activists like former European Commission (EC)’s President Jacques Delors acknowledged that the euro area is indeed at increased risk of collapse but that strong measures could help “Repair and Prepare Growth and the Euro after Brexit.” There’s a consensus however which says that “in its current set-up the euro is unlikely to survive” the next crisis.