Thomas Mayer, ex-chief economist at Deutsche Bank and current President of Flossbach von Storch Research Institute, said that the two countries most likely to exit the Eurozone are Germany and Greece.

He expects further centralization in Europe arguing that monetary policy will change only if people demand it politically or if a new crisis wave damage permanently the system.

During an interview for his new book “The New Order of Money: Why Do We Need a Currency Reform,” Mayer said that Greece could exit Eurozone because it cannot survive its sovereign debt inside the Eurozone and Germany could leave the common currency if the European Union proceeds with debt monetization.

“If the Eurozone shrinks, we will go back to the question of each country having its own currency, competing with the rest of the EU currencies” said the German economist.