Euro 'house of cards' to collapse, warns ECB prophet
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The European Central Bank is becoming dangerously over-extended and the whole euro project is unworkable in its current form, the founding architect of the monetary union has warned.
"One day, the house of cards will collapse,” said Professor Otmar Issing, the ECB's first chief economist and a towering figure in the construction of the single currency.
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Timely warning about the dangers of politicising central banking. Rules should've been upheld both when Greece and others breached them in one direction and Germany in the other. Needs fixing, the risks are existential.