It comes as no surprise that the cryptocurrency market has been in an unstable state in the recent couple of month. However, it seems like the conventional monetary system is starting to crack as well.
The experts and financial specialists are especially worried about the fate of one of the major world currencies – Euro.
In the article for Financial Times, the market and investment researcher Russell Napier claimed that euro might face some difficult times due to the downfall of the economy in the eurozone.
“The key consequence of this collapse will be the destruction of the euro. The expected success of the far-right and far-left in the European parliamentary election in May this year augurs the beginning of the end for the currency union. Both extremes share a commitment to the return of sovereignty to their parliaments that is incompatible with a single currency,” he said.
A lot of leading European countries, like Italy and Germany, are experiencing a major decrease in the economy growth rate and a lower performance rate of the major financial establishments.
Napier is sure that the policy of the European Union, namely restricting control over capital flow will have a detrimental effect on euro, the fall of euro will, in its turn, cause a collapse at the market.
But still the financial system is a very unpredictable thing, and anything could happen, despite the boldest forecasts of experts. Anyway, we hope that 2019 will be a more stable and favorable year both for crypto and fiat currencies.
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