Euro may not survive in current form: economists

6th June 2010, Comments 0 comments

The euro will not exist in its current form in five years' time due to the financial crisis hitting many member states, economists predicted in a survey for a British newspaper Sunday.

The Sunday Telegraph survey of 25 economists found deep equivocation about the state of the single European currency in the wake of instability in countries such as Greece.

Of the leading City economists who took part, 12 said the euro would not survive in its current form for another five years, suggesting certain countries could leave, while eight said it would and five were undecided.

Among those surveyed were former Bank of England policymaker Danny Blanchflower, who said it was "hard to see the euro surviving in its current form."

"The political implications are likely to be far-reaching -- Germans are opposed to paying for others and may well quit," he said, adding: "Greece may well not be able to avert a default.

© 2010 AFP

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