Mario Draghi, former ECB head, delivers a near certain recession outlook. A current ECB governor sees stagflation. However, an agonizing death of the Eurozone is the real story.

“It is almost sure we are going to have a recession by the year-end [in the EU]”; and: “Either Europe acts together and becomes a deeper union… or I am afraid the European Union will not survive other than being a single market.”

The euro itself is fatally flawed because there is not a single interest rate that makes any sense for Germany, Greece, Italy, France, and Spain, let alone 19 countries. It take a unanimous vote to change anything not specifically allowed by the Maastricht Treaty.

The EU won’t fail because it already has failed. But the cancerous death has been slow and agonizing. EU and EMU Rules make that impossible to change too.

https://www.zerohedge.com/political/former-ecb-president-mario-draghi-discusses-death-eurozone