Euro crisis could cause full EU break-up, warns ex-BoE official

John Gieve, former deputy governor for financial stability at the Bank of England, warns of an "explosion" waiting to happen in the EU

A break-up of the European Union – not just the single currency – is one of a number of possible outcomes that could emerge from the eurozone crisis over the course of this year, according to Sir John Gieve, who served as deputy governor for financial stability at the Bank of England (BoE) between 2006 and 2009.

"Greece is not on a sustainable path," Gieve warned. "There is nothing certain in economics, but it is likely that before the summer or before the end of the year, Greece will have to

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