‘EU is a ticking time bomb!’ Britons mock EU after expert warns of economic obliteration
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Hundreds flocked to comment on Express.co.uk after an economic expert revealed the bloc’s banking system was teetering on the brink of collapse. Director-General of the think tank Centre for Brexit Policy John Longworth argued this was set to cause serious economic decline throughout the bloc.
Fortunately for the UK, which is now totally free of Brussels’ suffocating bureaucracy, it can forge a much more successful path, he said.
Among hundreds of comments, one Express.co.uk reader slammed those still wanting to be part of the doomed European project.
They wrote: “Still want a piece of the failed European project Remainers?”
Another said: “The EU is a ticking time bomb set to implode and those countries that are still in the club will wish they had followed the UK’s example and left.
“This is going to get messy.”
Comparing the economies of the UK and other EU countries, a third wrote: “The difference is the UK’s debt can be repaid.
“Italy, Spain & Greece for a start, are deemed unrepayable, and as the EU member states, and in particular the German Bundesbank are exposed to this.
“It is an extremely precarious situation for the EU.”
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The outburst came after Mr Longworth insisted that the EU banking system was under strain as it continued to prop up countries that are economically burdensome, like Italy and Greece.
He added this would cause serious issues in a post-Covid world.
Brexit Britain, on the other hand, would thrive economically without the constraints of the EU, he said.
Speaking to Express.co.uk, he added: “The European Union is a busted flush.
“The banking system in Europe is always teetering on the brink of collapse.
“Italy is effectively a bankrupt country and it is all being propped up by the European central bank printing money and the German central bank underpinning that.
“That can’t go on forever and Britain, by comparison, has detached itself from that.
“The UK can now achieve super economic growth if the Government adopts the right policies.
“If we get 3 percent annum growth in the economy post-Covid that will be at world average levels.
“Therefore, Britain will continue to be a rich country rather than have long-term economic decline which is what the European Union faces at the moment.”
The economic recovery of the EU has been thrown into doubt due to the bloc’s inability to get a firm grasp on the coronavirus crisis.
In addition to this, the third wave plaguing many member states has resulted in further confusion as to what the future holds for Europe.
Due to Brussels slow vaccine rollout, Quintet Private Bank CIO Bill Street warned the European Union’s economic recovery could end up being six months behind the US and UK.
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