Friday, March 15, 2013

O'Neill: Euro may not exist by 2020....He thinks it will Last that long?

Jim O'Neill, the Goldman Sachs economist who famously captured the globe's shifting economic power when he coined the "BRIC" acronym, now says the euro may not exist by 2020.

O'Neill's views were aired at the Spring Ambrosetti Forum, where delegates gathered by the peaceful Lake Como. But unlike its serene waters, many delegates felt the future of the European Union -- which has been destabilized by economic crisis and political infighting -- remained murky.

O'Neill, speaking to CNN at the forum, said: "If we carry on the same way as we are, by 2020 the euro might not exist."