German economist says Euro will collapse

The Euro instability may push citizens to look for an alternative to the official currency – as stated by a German economist, former employee of Deutsche Bank Thomas Mayer, RIA Novosti reports

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Mr. Mayer believes the European Union will be overtaken by prolonged inflation, and it can kill the Euro as a currency. “At this time, the European Central Bank continues to print banknotes and cannot – and probably does not want to – influence the situation,” he noted.

The economist added that inflation can have not only economic, but also political and social consequences. According to him, a period of hyperinflation in Germany in the 1920s helped National Socialist adherers come to power.