Keating warns on break-up of EU

Former Prime Minister Paul Keating took a swipe at German Chancellor Angela Merkel yesterday and warned Greece, Spain, Portugal and Italy were likely to leave the EU common currency in the years ahead.

Speaking at the inaugural Eureka Congress in Melbourne, Mr Keating said the four countries which have been struggling with higher bond yields in recent weeks would leave the union rather than ceding control to EU headquarters in Brussells.

Mr Keating targeted the German Chancellor for particular criticism suggesting: A lack of political will to change is the biggest problem. German Chancellor Angela Merkel is intellectually limited and she is taking the whole world down.

In a vintage performance, Mr Keating aimed a line of invective at the leader of the Opposition Tony Abbott, dubbing him an pre-copernican obscurantist.

If the public takes him they will get a large kick in the bum and they will deserve it, Mr Keating said.

However, the famously sharp-tongued politician was almost as hard on the current minority Labor government suggesting: They just don’t have a convincing and persuasive narrative— via

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