Eurozone at risk of repeated crises: ECB

Europe’s flawed political mechanisms condemn the bloc to repeated crises, and the notion of ejecting a member from the euro is an “evil genie” with destabilising consequences, a top central banker said yesterday.

Kicking out a euro member would raise questions about which country is the next one to fall, destabilising the entire bloc, so the euro has to be irreversible, ECB executive board member Benoit Coeure said Before Greece was bailed out this month.

It was nearly ejected from the bloc.