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 US banks 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.”