The disaster is a great distance from the boasts of former European Commission President Jean-Claude Juncker who as soon as boasted the only foreign money was "the EU's greatest achievement."

Mr Lyddon now factors out Germany's credit standing is all that stands between the Euro and collapse.

In reference to France's ranking tumbling, he mentioned: "Even that is hanging by a thread: €417bn dwindles to €183bn if France’s public credit rating falls just one level from AA to AA-.

"France solely escaped that in June this yr as a result of the ranking company Standard and Poor’s mentioned France’s money owed had the 'implicit assist' of Germany.

He went on: "For 'implicit' read 'doubtful' – there is no legal obligation on Germany to pay France’s debts of €4 trillion as well as its own, also €4 trillion.

"Political issues would supposedly trigger it to. Really? Even if it wished to, does Germany have the required sources? Is it good for €8 trillion, or certainly your entire €15 trillion if Germany 'implicitly helps' all of the Eurozone member states?

"That would be over 300 percent of the size of its whole economy. Even Greece’s debt is only 193 percent of the size of its economy and that merits it having a Standard and Poor’s credit rating of BB+ (denoting a speculative investment with a substantial risk of loss)."

He described German assist for different nations money owed to maintain the euro as "a House of Cards" which might collapse at any second.

"If Germany was responsible for such a massive amount of debt, its credit rating should be nearer to the CCC level - junk with a very high risk of loss.

"That’s the issue. Germany enjoys a AAA ranking as a result of the ranking businesses in a single breath think about it in isolation, and within the subsequent breath they wheel in Germany’s implicit assist to justify sustaining inflated rankings for different Eurozone member states, with out including that member state’s money owed onto Germany’s and adjusting Germany’s ranking downwards."

Mr Lyddon also made critical comparisons with crypto-currencies like Bitcoin which the UK Treasury has dismissed as little better than gambling.

He noted: "The euro has no tangible backing, and, in contrast to the pound, greenback, yen or Swiss franc, it doesn't have a rustic behind it.

"All UK citizens back the pound and, God help us, 100 percent of the UK’s debts. We hold all the levers of economic management over the pound – even if we regularly crunch our gears – and in the worst case our Government can instruct the Bank of England to issue more pounds to service the UK’s debts."

He mentioned that likme bitcoin the Euro is supported by "a pseudo religious belief."

Mr Lyddon added: "Digital currencies – bitcoin, stablecoin, Britcoin et al – makes your head spin. The spinning has helped the euro grab on to proper currencies like the pound and the dollar and make out it is like them.

"Its store window is actually decked out like a correct foreign money - simply don’t go within the storeroom and see what’s behind it.

"The Euro no better than bitcoin? Maybe we’d better start believing it."