By Julien Backhaus – Wealth Protection Up-To-Date (Germany) –
A Briton has said a few hours ago that the euro stands before the end. This statement will probably not surprise you. Crash prophets are finally more than enough. Still, the statement by Jim Mellon is to be taken seriously. The man had correctly predicted the brexit against the opinion polls and the general expectation.
The failure of the referendum to revise the Constitution in Italy has the consequence that the euro will be even more involved in the Bredouille than anyway. It gives the currency a lifetime of a maximum of five years.
The euro, he predicted further, will land below the so-called parity in the coming months of the new year, which will cost less than one dollar. The triumph of the populists now begins, the anti-establishment movement continues, and the euro zone breaks apart within a few years.
The brexit of Great Britain is for Mellon anyway only a side war, which distracts from the problems of Europe. The problems themselves are much larger, as I had already described at this point. Especially Italy again reveals how high the debt is actually .
Meanwhile, the debt has reached an incredible record of 2.25 trillion euros. 135.5% of annual economic output GDP – this is no longer repay after normal current economic knowledge and beyond the second highest mountain in the entire euro zone.