The European currency may cease to exist in 10 years without significant economic reforms, mainly by France and Germany, according to French presidential candidate and former economy minister Emmanuel Macron.

“The truth is that we must collectively recognize that the euro is incomplete and cannot last without major reforms,” Macron said in a speech at Humboldt University in Berlin on Tuesday, as cited by Reuters.

Speaking on the fiasco of the single European currency, he stated that it failed to provide Europe with “full international sovereignty against the dollar on its rules,” and “a natural convergence between the different member states.”

Full story: rt.com