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Eurozone ‘Collapsed’, Euro to Vanish, FinansInvest CEO Says

The eurozone has “already collapsed” and is disappearing as the region is on the brink of a banking crisis that will destroy the currency, said Zafer Onat, the chief executive of FinansInvest, a Turkish broker owned by National Bank of Greece SA.

“I believe that the European monetary union doesn’t exist anymore,” Onat said in an interview in Istanbul today. “I think it already collapsed but no one has said it yet. Now we are in a deadlock. One of the world’s major reserve currencies will disappear.”