Unicredit execs declare that the euro is finished

THE EURO is dead and cannot be saved, while Greece will inevitably default, Attila Szalay-Berzeviczy, head of global securities services at UniCredit Group wrote in an article on a Hungarian website yesterday.

And Unicredit chief executive Federico Ghizzoni was reported to have said that USā€ˆbanks are withdrawing from the region entirely.

“Having today US banks tell you ‘we’re out of Europe,’ ‘we have divested,’ ‘we’re waiting to see what happens’ is -- I believe -- a unicum for the past 50 years,” he said.

His downbeat view chimed with that of his exec, Szalay-Berzeviczy, who signed his article as former head of the Budapest Stock Exchange. “The common currency of Europe is practically dead,” he wrote.

A UniCredit spokesperson said: “The comments expressed by Mr Szalay-Berzeviczy are his own personal view and do not reflect the position of the company.”