Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.

Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.

The bailout of Greece will only act as a 'sticking plaster' for the Euro crisis, the bank warned today

Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France - a core founder-member.

mrhenry's analysis:
First the dollar, now the euro... what other major currency is available to become the new reserve currency? Things are really moving fast towards a new global currency.