Experts: Euro-zone collapse is inevitable

The euro-zone collapse is inevitable, financial expert Viktor Suslov told a press conference "Is Greece leaving the euro-zone? Consequences for Europe and the world", ForUm correspondent reports.

In particular, Suslov noted the need for understanding the reasons for the Greek debt crisis. "It was the mistake to introduce single currency in sovereign states, the establishment of the euro-zone was a mistake," he said.

The expert noted that Greece has no leverages over the situation, so it has a substantial capital outflow of funds from the banks, the growth of debt, unemployment and emigration. As for the euro devaluation, Suslov believes that only the strongest euro-zone economy, Germany, may benefit from it.

"As you know, Nobel Prize-winner American Professor Roubini criticizes the euro-zone model... He argues that the collapse of the euro-zone is not only inevitable, but also desirable to maintain the EU," the expert said.

In addition, the financial expert warned the citizens of Ukraine against swift selling euros and stressed that the process of disintegration of the euro-zone can last years or even decades.

 

In turn, executive director of the International Fund of Blazer Oleh Ustenko noted that Greece had to declare its default long ago.

He also said that currently, difficult situation is observed in other countries of the euro-zone as well, predicting that Greece may not be the first state to deny euro currency.

"There are numerous statements from the UK ... we hear repeated statements from Italian and Spanish politicians," he concluded.

Meanwhile, former deputy chairman of the National Bank of Ukraine Serhiy Yaremenko expressed his view that "current situation in Greece is a phenomenon not of this country, but of the Western model (of economy - Ed.), which has been developing for 40 years".