Greenspan said Euro area doomed

Alan Greenspan, a former Chairman of the US Federal Reserve (Fed) from 1987 to 2006, deemed the collapse of the euro area inevitable if nothing changes. Expressing his “grave concerns” about the future of the European common currency, Greenspan told Gold Investor magazine that “the eurozone is not working” since the European Central Bank (ECB)’s balance has become larger than ever without growth-propelling effect on the economies of euro area’s member countries. Seeing the Brexit as just a start of a decomposition process for Europe, it’s only a matter of time before the euro area collapses, Greenspan explained.