EU braces for pandemonium as insider warns “German economy is deteriorating fairly quickly” | World | New

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Euroscepticism is nothing new. Since efforts to achieve European integration began in the 1950s, political parties that have made anti-integration their main platform have started to proliferate across the continent. The current pandemic, lockdown measures, looming economic crisis and slow vaccine rollout, however, appear to be exacerbating divisive trends in Europe.

For example, a survey carried out by Tecnè during the first wave of coronavirus in March showed that 67% of Italians believed that being a member of the bloc was a disadvantage for Italy, up from 47% in November 2018.

In France, the president of the National Rally political party Marine Le Pen succeeded for the first time in defeating French President Emmanuel Macron in the 2022 elections, according to an Ipsos poll last week.

While many wonder if the EU will be able to survive in the long term, German MEP Gunnar Beck has determined the exact moment when everything will start to fall apart.

He told Express.co.uk: “EU leaders absolutely want European integration… why?

“It’s a mystery to me, because so far they haven’t been successful.

“The European Community has done relatively well, but things have started to go wrong with the single currency and so on.

“The economic performance of the past 25 years has been catastrophic.”

Mr Beck noted: “But is the EU going to break up?

“It depends on how much German money is left.

“The EU will be under extreme pressure when German money runs out.

“The German economy did well until a couple of years ago, but now it is not doing as well compared to other prosperous economies around the world.

“Its budgetary situation is deteriorating quite rapidly.

During a 2018 debate at the Oxford Union, former Greek finance minister Yanis Varoufakis also claimed that the bloc was going to separate because of Germany.

He said: “The euro is going to collapse, if it collapses I don’t want it to, I am just describing the future as I see it.

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“Of course, what will happen is that the euros will be transferred from Italian bank accounts to German bank accounts.

“It’s already happening.

“There is about 200 billion in the last 18 months that have moved from Italian bank accounts to German bank accounts due to the risk of keeping your euros in a country which, after the break-up of the euro zone, will see its currency re-denominated. downward and not outward. “


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