A Nobel prize-winning economist will on Thursday withdraw his support for the euro saying it has created a lost generation unemployed youngsters and should be broken up. Sir Christopher Pissarides was once a key proponent of a single currency but will on Thursday accuse the euro of dividing Europe and say action is needed to restore the euros credibility in international markets and the trust that Europes nations once had in each other, according to the Daily Mail.
"the euro should either be dismantled in an orderly way or the leading members should do the necessary as fast as possible to make it growth and employment-friendly. We will get nowhere along with the current line of ad hoc decision-making and inconsistent debt-relief policies. The policies persued now to steady the euro are costing Europe jobs and they are creating a lost generation of educated young people. This is not what the founding fathers promised."