German economist Thomas Mayer warned Europe of long-term inflation and collapse of the euro
Euro is becoming more and more unstable, said Deutsche Bank’s former chief economist Thomas Mayer, writes Deutsche Wirtschafts Nachrichten (DWN).
According to the expert, the European Union is expecting long-term inflation that could “kill” the euro. The European Central Bank continues to print banknotes, but is unable and unwilling to change the situation, he explained.
Mayer added that inflation will have not only economic, but also political and social consequences. This can be seen in an example of hyperinflation in Germany early 1920s, the German economist specified.
“It contributed to the coming to power of the National Socialists,” the expert stressed.
People will start looking for replacement of official money, Mayer predicted. The euro will collapse, he warned.
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