Beatrix von Storch invited speakers to discuss the future of the euro and potential alternatives to the present European monetary system in Berlin on Thursday.
She said the currency, which was introduced in Germany in January 2002, was destined for failure and said it “cannot be saved”.
Ms von Stroch said: ”Because of the euro, in the way it is at present, [it] does not work, because it failed, because it cannot be saved.
“More and more measures are being taken which, in the end, will not lead to saving the euro in its present form. In my opinion, it is at its end."
Beatrix von Storch predicted the end of the eurozone
More and more measures are being taken which, in the end, will not lead to saving the euro in its present form. In my opinion, it is at its end
Beatrix von Storch
The MEP said the EU was “facing a crisis, the magnitude of which we are not aware of”.
She then warned of an incoming disaster for the eurozone if Italy was to leave the single currency.
”I believe that the topic of the euro ended up in oblivion [but] we will be falling on our toes heavily and abruptly when we realise that Italy is not at all comparable with Greece and that we twisted ourselves with Greece but that that was nothing in comparison with Italy,” she said.
She blasted the EU and its “federal influence” while speaking about her hopes for a future currency.
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"Anonymity is what we want to preserve,” she said. “We don't want federal influence because this [bitcoin] is the counter-model for our usual money.
“It is money without a federal conception. It is money without federal monopoly and I see in Brussels that they are trying to go there now."
The comments come after Donald Trump’s ambassador to the EU warned the currency “could collapse” in the next 18 months.
Professor Ted Malloch told the BBC: “The one thing I would do in 2017 is short the euro.
“I think it is a currency that is not only in demise but has a real problem and could collapse in the coming year, year and a half.
“I am not the only person or economist of that point of view.
“Someone as acclaimed as Joseph Stiglitz – the famous World Bank economist – has written an entire book on this subject.”