Greece is considering leaving the euro in favour of the US dollar, Ted Malloch claims

The man tipped to be President Donald Trump's ambassador to the EU said  a 'Grexit' would be the best option for Greek people as the current situation is 'unsustainable'

Zlata Rodionova
Wednesday 15 February 2017 09:11 GMT
The businessman and keen Brexiteer recently suggested he wants to bring down the bloc
The businessman and keen Brexiteer recently suggested he wants to bring down the bloc

The man tipped to be Donald Trump’s ambassador to the European Union has said that Greece is contemplating leaving the euro in favour of the US dollar.

According to the transcript of a translated interview with Greek local online news site, Professor Ted Malloch claimed Greek economists are looking into taking on the US banknotes if the country turns its back on the European single currency in a move that he said would “freak out” Germany.

He said: “I know some Greek economists who have even gone to leading think tanks in the US to discuss this topic and the question of dollarisation.

“Such a topic of course freaks out the Germans because they really don't want to hear such ideas.”

Mr Malloch added that a “Grexit” would be the best options for Greek people as the current situation is “unsustainable”.

Mr Malloch, a strident Brexiteer, has indicated he is no fan of Brussels on several occasions.

Earlier this month, in an interview with Bloomberg, Mr Malloch said that he didn’t want to speak on behalf of the Greek people but “I think there is probably – from an economist’s perspective – a very strong reason for Greece moving away from the euro.”

Last month, Mr Malloch said the euro “could collapse” in the next 18 months.

"The one thing I would do in 2017 is short the euro," he said.

“I think it is a currency that is not only in demise but has a real problem and could in fact collapse in the coming year, year and a half,” he added.

Although not yet confirmed, Mr Malloch has been widely reported as being the President's choice for the Brussels role.

He has drawn widespread condemnation from European leaders after comparing the EU to the Soviet Union and saying the bloc needs “taming”.

Earlier this month, the European Parliament’s conservative, socialist and liberal political parties wrote to the European commission and the European council to describe Mr Malloch as hostile and malevolent.

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