‘Greece may kill Euro by end of year’
Patrick Young told RT that the EU needs to act much more quickly on the Greek catastrophe if it hopes to remain intact.
“The EU is too slow in acting, there is too little leadership and there is a pig-headed intransigence particularly among the finance ministers, but especially amongst the leaders of the EU nations in terms of understanding that they needed to move a lot faster on this crisis,” he said. “Ultimately time is running out because Greece is leading the contagion that is going to kill the Euro by the end of the year if we do not see positive and rapid action. And realistically, that action means that Greece needs to leave the Euro.”
And the investment advisor was defiant about letting Athens go free.
“The problem is, we cannot leave citizens of the EU to starve to death because it suits a troika of international lenders,” he insisted. “We need to let the Greeks go free because otherwise this whole thing will end up with some form of revolution in Greece.”
He also stressed that the EU is trying to get fiscal control of the country, but said Greeks are unlikely to want “a cabal from northern Europe” in charge.
“Essentially, what is being fought at the moment is a battle for the sovereignty of Greece,” he said. “We’ve seen already other countries being de-facto carved up by the European Union. For example, Kosovo was carved out of Serbia.”
“What is happening here is that the EU are trying to take fiscal control of Greece because they think that is the only way they can actually control the crisis,” Patrick Young added. “But the truth of the matter is that I do not believe that the Greeks want to be taken over and ruled by some sort of cabal from northern Europe with a Grand Vizier being appointed from Brussels. And I certainly do not believe that the European Union is going to be able to solve the fundamental problems of Greece at this moment without actually endangering the credit rating of Germany and the solvent states of Northern Europe.”