| UPDATED: 14:36, Mon, Jan 11, 2021
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Professor David Blake, Professor of Economics at City, University of London, said the monetary union’s problems were such that it was crucial for Prime Minister Boris Johnson to forge trade alliances within what the academic called the “Anglosphere” - while pushing for membership of the Trans-Pacific Partnership spearheaded by Japan. In total, 19 of the EU27 countries are members of the eurozone, referring to the area in which the euro is used.
| UPDATED: 10:23, Mon, Jan 11, 2021
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EU banks have been left in a ‘death loop’ as a result of the introduction of the euro, the bloc’s currency, an economist has claimed. Professor David Blake said the current situation also means Germany is owed more than £950billion it can never recover, and Italy and Spain each owing hundreds of billions which they can never repay.