Instability in the euro area results from fragmentation, chief economist for Lithuania at Nordea, the biggest financial group in the Nordic and Baltic countries, believes.
Žygimantas Mauricas
© DELFI / Kiril Čachovskij

In Žygimantas Mauricas’ view, it should become clear soon whether the results of quantitative easing in Europe would be similar to the United States, which saw its economy growing after such a program, or to Japan, which saw its economy stalling.

“The question is simple: which road will the euro area take: will it be similar to the United States or more similar to Japan?” Mauricas said at a news conference on Tuesday.

He highlighted the immigrant crisis as the key problem.

“The immigrant crisis may be disastrous for Europe as it may trigger disagreements between countries. Europe is unable to find a common solution to this problem… And it may disunite Europe,” Mauricas said.

He believes that Greece will continue triggering economic instability. In Mauricas’ view, there are several potential scenarios but the most likely is the one involving the extension of support program to Athens.

BNS
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