Italy's referendum will COLLAPSE EURO - chilling warning from investor who forecast Brexit

Italy's referendum will COLLAPSE EURO - chilling warning from investor who forecast Brexit

AN INVESTOR who correctly predicted Britain would leave the European Union (EU) before the referendum has now forecasted the euro will collapse.

Jim Mellon, the Chairman of the Burnbrae Group, has warned the currency will become a victim in the growing anti-establishment surge which will cause the EU to fracture - all within five years.

He said: “Brexit is going to be a sideshow to the problems of Europe that are becoming more and more evident. 

“The euro as it stands at the moment is just a very inappropriate mechanism — I give the euro between one and five years of life.”

The UK’s recent Brexit vote, along with Donald Trump's election as US President, has signalled a sea-change in global politics and populist movements around the world have gathered pace.

Italy’s referendum vote at the weekend, as well as France’s presidential election next year, could also see upsets at the ballot box, giving currency traders cause for concern and initiating a run on the euro.

Source 

EU Common Criminals

Years ago, Mrs Thatcher recognised the truth behind the European Project. She saw that it was about taking away democracy from nation states and handing that power to largely unaccountable people.

Knowing as she did that the euro would not work she saw that this was a very dangerous design. Now we in UKIP take that same view and I tried over the years in this parliament to predict what the next moves would be as the euro disaster unfolded. 

But not even me, in my most pessimistic of speeches would have imagined, Mr Rehn, that you and others in the Troika would resort to the level of common criminals and steal money from peoples' bank accounts in order to keep propped up this total failure that is the euro. 

You even tried to take money away from the small investors in direct breach of the promise you made back in 2008. 

Well the precedent has been set, and if we look at countries like Spain where business bankruptcies are up 45% year on year, we can see what your plan is to deal with the other bailouts as they come. 

I must say, the message this sends out to investors is very loud and clear: Get your money out of the Eurozone before they come for you. 
What you have done in Cyprus is you actually sounded the death knell of the euro. Nobody in the international community will have confidence in leaving their money there.

And how ironic to see the Russian prime minister Dmitry Medvedev compare your actions and say, ' I can only compare it to some of the decisions taken by the Soviet authorities.' 

And then we have a new German proposal that says that actually what we ought to do is confiscate some of the value of peoples' properties in the southern Mediterranean eurozone states.

This European Union is the new communism. It is power without limits. It is creating a tide of human misery and the sooner it is swept away the better.

But what of this place, what of the parliament? This parliament has the ability to hold the Commission to account. I have put down a motion of censure debate on the table. I wonder whether any of you have the courage to recognise it and to support it. I very much doubt that. 

And I am minded that there is a new Mrs Thatcher in Europe and he is called Frits Bolkenstein. And he has said of this parliament - remember he is a former Commissioner: 'It is not representative anymore for the Dutch or European citizen. The European Parliament is living out a federal fantasy which is no longer sustainable.' 

German people never supported the euro in the first place

(Reuters) - The political establishment has dismissed Germany's new anti-euro party as a fear-mongering populist aberration that could implode even before a looming federal election.

But the first congress of the "Alternative for Germany" (AfD) showed that the movement, launched only a few months ago by a group of renegade academics, journalists and businessmen, is striking a chord with voters and may prove an influential force come September.

Over 1,500 AfD supporters from across Germany packed into the Intercontinental Hotel in central Berlin on Sunday to elect the party leadership and formally approve a policy program that has one objective above all: an end to the euro and return of the deutsche mark.

The meeting was not without the sort of hitches one would expect from a new party that is virtually devoid of experienced, professional politicians.

A speech by party founder Bernd Lucke was interrupted at one point by a man waving a German flag. And delegates interjected repeatedly to remind AfD leaders gathered on the stage about proper protocol as motions were voted on.

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