‘It’ll Blow Like Vesuvius’: Euro €1trn Debt Volcano to Erupt And ‘Wipe Out German Economy’

• ‘It’ll Blow Like Vesuvius’: Euro €1trn Debt Volcano to Erupt And ‘Wipe Out German Economy’
  by HARVEY JONES, https://www.express.co.uk/
  THE EU is sitting on a huge debt “volcano” that everyone pretends is dormant but is preparing to erupt with destructive force, a top analyst has warned.
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  If it explodes it could blow the European single currency apart and send shockwaves across the global economy. Pressure is building in the European single currency, whose “fundamental flaw” is leading to profound and growing imbalances between its 19 member countries, which include Germany, France, Italy and Greece.
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  Jeremy Batstone-Carr, European strategist at Raymond James, has likened the threat to Vesuvius, which destroyed Pompeii almost 2,000 years ago and looms over the city of Naples today, “long dormant but certainly not deceased”.
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  Vesuvius is not expected to erupt any time soon but it is a different matter for the euro, Batstone-Carr warned. “Europe’s population and financial markets blithely go about their business seemingly unaware of the pressures building in the vast magma chamber that is the regional banking system.”
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  Under the single currency, fiscally sound Germany stands behind debt issued by poorer southern states. 
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