15th Mar – Financial crisis fears: EU’s eurozone ‘polluting’ world with ‘collateral risk’ says expert

The eurozone is “polluting” the rest of the world with “collateral risk” which could trigger a disastrous financial crisis dwarfing that of 2007/2008, a leading financial services lawyer has warned.

Barney Reynolds, a partner at Shearman and Sterling LLP, castigated the bloc for running a currency they “can’t afford” – and said it was only kept in check by the Bank of England, which will not be in a position to do due such due diligence after the UK severs ties at the end of the year. Mr Reynolds was speaking after the publication of Managing Euro Risk, a paper which he co-authored with David Blake and Robert Lyddon, and which he launched, along with former Conservative Party leader Iain Duncan Smith, at the House of Commons last month.

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Read Barney Reynolds’s recent co-authored publication with Politeia here: Managing Euro Risk: Saving Investors from Systemic Risk’

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