Draghi Admits EU May Breakup For First Time

Eurasia News Online

From Armstrong Economics, by Martin Armstrong

 

Mario Draghi OMRI is an Italian economist, manager and bankerFor the first time, the head of the European Central Bank, Mario Draghi, has conceded the possibility that the EU may fall apart. Draghi came out and said that any member leaving the Eurozone would need to settle its claims or debts with the bloc’s payments system before severing ties. This statement reveals the heated discussion at Davos and the rift that is beginning to spread. This statement, released on Friday, was made in a letter to two Italian lawmakers in the European Parliament.

Sentiment in Italy is turning very anti-euro and this view is beginning to emerge in other Eurozone states. While they are blaming Britain, the real issue is the insane management of austerity and negative interest rates. This has created a massive depression in Europe and the unending Quantitative Easing…

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