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(Source: CNBC) According to CNBC’s Jim Rogers has predicted that the euro is not likely to exist over the longer term, about 15-20 years. Rogers said that the value of the British pound is expected to fall substantially in the coming years.
“The euro will probably break up in the next 15 to 20 years,” Rogers explained in an interview, “we’ve had currency unions in history, they didn’t survive, this one won’t survive either.”
Lately, the euro has been under pressure due to Greece’s debt concerns. But EU finance ministers agreed to bail out Greece if it will need aid because of its growing public debt.
Rogers said that the pound’s forecasted problems are expected to be caused by Britain’s “gigantic debt and huge trade deficit. The Chinese renminbi may replace other currencies in 20 years, but it is absurd to think of this now, as it is still a controlled currency.”
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