Euro ‘doomed to be a weak currency’
by DAVID HUGHES, Daily Mail
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The euro is doomed to be a weak currency indefinitely, according to a crushing assessment by Europe’s most authoritative economists.
The single currency will not prosper without sweeping economic reforms across the EU, the Organisation for Economic Cooperation and Development says today.
The bombshell verdict punctures the euro-euphoria that greeted the launch of notes and coins in the new currency in 12 EU member states on January 1.
Politicians across the Eurozone hailed the launch as a massive success that has given the EU its biggest boost since it was founded more than 40 years ago.
British Ministers implied our entry was ‘inevitable’.
Yesterday they were brought down to earth with a bump by the independent OECD’s analysis of the fatal flaws that threaten to cripple the euro.