Dr Markus Krall threw his support behind Britain’s decision to unshackle itself from the EU as he blasted the Union as a “bureaucratic protectionist system”. The German banker said the European Central Bank has created a “big and pretty powerful monetary bomb” that the UK is lucky to avoid.
He said: “One should be far, far away when the bomb explodes, which is what the Brits are doing at the moment.
“The monetary bomb the ECB has created for us is unfortunately pretty big and pretty powerful, also because they have been working on it for a long time.
“We have witnessed a low and then zero interest rate policy for 12 years and this policy has massively eroded our banking system in the Eurozone.”
Dr Krall said by backing Brexit, the UK had made a “logical” decision to leave the EU and if was British he would have done the same.
He told RT Deutsch: “I believe that Brexit is based on a healthy economical analysis. And they are not the only ones.
“I believe that by now many have realised, and not just in Great Britain but also in Europe, in the USA, in Russia and China, that something is festering in Europe and that a problem was created with this monetary policy which is now turning virulent and which will blow up in our faces.
“I was British, I would support Brexit, of course and absolutely.
“I have two hearts beating in my chest. As a German I, of course, have to say that the exit of Great Britain will further weaken the liberal, free market economy position within the EU.
“Therefore those who are for a free market economy will be weakened further by Britain’s exit, but of course I am very sympathetic towards the British in terms of them wanting a more free order for themselves.”
Dr Krall said in the past two decades the EU had moved away more and more from the ideas of its founders.
He added: “Their ideas were free trade, to take down borders within Europe for trade, and definitely not protectionism.
“But they have now more and more turned to a bureaucratic protectionist system, have become more and more inbound.
“In fact they have created a system of small scale projects.
“I understand very well that this goes against the British soul. They have lived from free trade and freedom for centuries. Therefore I have the greatest sympathies.”
Additional reporting by Monika Pallenberg