THE eurozone is doomed to fail amid structural failings within the bloc, former Greek finance minister Yanis Varoufakis has warned.
The outspoke politician said he fears Germany could force Greece or Portugal out of the bloc in a bid to strengthen the currency union.
But Mr Varoufakis warned such a move could release “demonic forces” and blow the entire union apart.
He told the Institute of Directors’ annual convention: “The eurozone is utterly unsustainable, the problem is structural, the architecture of the eurozone is simply not capable of sustaining itself.”
He added: “My great fear is that at the moment there are very powerful centrifugal forces within the eurozone, including the Bundesbank as part of a campaign to reconfigure the eurozone.
"They think they can control its fragmentation by having Greece or Portugal eased out in the next five years, but I believe they would be unleashing demonic forces which they would not be able to control.”
In the future it could mean a split between northern and southern Europe, said Mr Varoufakis.
He added: “If this happens, we are facing a post-modern version of the 1930s.”
The far-left academic who served last year under current prime minister Alexis Tsipras said Britain could also find leaving the European Union a difficult prospect.
He said: “My message to Brexiteers has always been the Hotel California – you think you can check out but you cannot really leave such a mess behind.
http://www.express.co.uk/finance/city/715420/Eurozone-is-utterly-unsustainable-blasts-former-Greek-finance-minister
