György Matolcsy, governor of the Hungarian National Bank (MNB), warns in a Facebook post that “the looming next financial crisis might contribute to the Eurozone breaking into two blocks.” Reacting to an article in the Financial Times from June that suggests a possible end of the Euro as legal tender in the countries that use it, Matolcsy claims that there have already been five major crises over the last 20 years in the Eurozone.

The central bank president predicts that “[i]n the 2020s we can expect multiple crisis”[sic] to occur that “will have the same results than the last five shocks.” [via 24.hu]

By Steven