Top Israeli Banker Predicts EUR Collapse

Bulgaria in EU | May 2, 2010, Sunday // 13:58|  views

Top financial experts predict the EUR will disappear if the EU fails to deal with the Greek crisis. File Photo

The former Governor of the Bank of Israel, Yaakov Frenkel, predicts a collapse of the single European currency, the EUR, in the next 3 years.

Frenkel, cited by the Bulgarian news agency BTA, spoke in a TV interview saying that if the European Union leaders fail to deal successfully with the Greek financial crisis, the EUR would simply disappear.

Frenkel’s forecast comes on the heels of same statements made just last week by finance expert, Nouriel Roubini - a professor of economics at the Stern School of Business, New York University and chairman the economic consultancy firm, Roubini Global Economics.

Frenkel says that in contrast, the Israeli economy and fiscal policies are stable and Israel would see the end of the crisis in the next two years.

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Tags: EUR, Eurozone, Greece debt crisis, Nouriel Roubini, Yaakov Frenkel


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