German conservatives are on course to destroy Europe with their commitment to continent-wide austerity, one of the world’s most influential economists has said.

Thomas Piketty, a French academic who published a bestselling book on capitalism, said the likes of Angela Merkel had failed to learn the lessons of the past.

“This is neither a reason for France, nor Germany, and especially not for Europe, to be happy,” he told German newspaper Zeit Online, when asked about the dominance of austerity in policymaking.

“I am much more afraid that the conservatives, especially in Germany, are about to destroy Europe and the European idea, all because of their appalling failure to remember history.”

Mr Piketty said Germany’s past history of having its debt forgiven by other nations should inform its approach to the current Greek crisis.

The eminent economist is director of studies at the École des hautes études en sciences sociales, a professor at the Paris School of Economics and Centennial professor at the London School of Economics.

In contrast to the widespread support for austerity amongst politicians, most macroeconomists say the policy is damaging.

A survey by the Centre for Macroeconomics released in April this year found that two thirds of macroeconomists believed austerity had not had a positive effect in the UK.

The French government has in recent days softened its stance on Greece’s debt, in contrast to Germany - whose stance has hardened after the announcement of a referendum on a deal offered by creditors.

France's economy minister Emmanuel Macron took a similar line to Mr Piketty’s last night, warning against re-enacting the ‘Treaty of Versailles’.

“Whatever the outcome of the vote, we’ll have to resume political talks tomorrow,” Mr Macron said in the aftermath of the vote. “Let’s not re-enact the Treaty of Versailles.”

The ‘Treaty of Versailles’ was the draconian deal imposed on Germany in aftermath of the First World War.

The resentment and economic damage is believed by many historians to have directly contributed to the rise of Adolf Hitler and the start of the Second World War.

In pictures: Greek referendum Show all 28 1 /28 In pictures: Greek referendum In pictures: Greek referendum Greece EU Referendum People celebrate in Athens after the first exit-polls of the Greek referendum Getty Images In pictures: Greek referendum Greece EU Referendum A "No" supporter flashes a victory sign before a Greek flag atop the parliament in Athens, Greece July 5, 2015.Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro. REUTERS/Yannis Behrakis In pictures: Greek referendum Greece EU Referendum Supporters of the No vote react after the first results of the referendum at Syntagma square in Athens AP In pictures: Greek referendum Greece EU Referendum Supporters of the No vote wave Greek flags after the referendum's exit polls at Syntagma square in Athens AP In pictures: Greek referendum Greece EU Referendum Greece's finance minister Yanis Varoufakis casts his vote in the country's referendum EPA In pictures: Greek referendum Greece EU Referendum A ballot box is emptied by a voting official at the closing of polling stations in Athens, Greece July 5, 2015. Greece voted on Sunday on whether to accept more austerity in exchange for international aid, in a high-stakes referendum likely to determine whether it leaves the euro-currency area after seven years of economic pain. REUTERS/Marko Djurica In pictures: Greek referendum Greece EU Referendum A photographer photographs a man waiting to vote in the referendum at a school in the suburbs of Athens Getty In pictures: Greek referendum Greece EU Referendum Greek voters are being asked to choose between backing their creditor's austerity measures or rejecting them Getty In pictures: Greek referendum Greece EU Referendum Tourists walk past posters with slogans that read “OXI“ (NO) and “NAI“ (YES) ahead of the referendum in Athens AFP In pictures: Greek referendum Greece EU Referendum Opposition parties to Syriza, including the centre-right New Democracy, are campaigning for a ‘Yes’ vote in the referendum Reuters In pictures: Greek referendum Greece EU Referendum Protesters on both sides of the argument ('No' pictured here) have rallied in Athens AP In pictures: Greek referendum Greece EU Referendum Greek Prime Minister Alexis Tsipras has been branded reckless and a feckless liar by EU leaders Reuters In pictures: Greek referendum Greece EU Referendum According to polls which surveyed some 1000 people across the country, 41.5 percent of Greeks would support the new bailout measures to avoid an exit from the Eurozone AP In pictures: Greek referendum Greece EU Referendum Despite Tsipras's assurances, many Greek people are not certain whether Sunday’s referendum is a vote on whether Greece will remain in the euro or not Reuters In pictures: Greek referendum Greece EU Referendum The Greek and EU flags flutter in front of the ancient Acropolis hill in Athens. The Greek people have been called upon to show “calm and national unity” Getty In pictures: Greek referendum Greece EU Referendum Greek Prime Minister Alexis Tsipras addresses a crowd of 25,000 'No' supporters in Athens' Syntagma Square YANNIS BEHRAKIS/Reuters In pictures: Greek referendum Greece EU Referendum Greece’s Prime Minister Alexis Tsipras gave a televised address to the nation ahead of the vote. He has called on voters to reject creditors’ proposals for more austerity in return for rescue loans AP In pictures: Greek referendum Greece EU Referendum Protesters march holding a torn European Union flag during a demonstration for the 'NO' campaign in Thessaloniki Getty Images In pictures: Greek referendum Greece EU Referendum Greek Finance minister Yanis Varoufakis has pledged to resign if his country votes “yes” to the bailout plan Reuters In pictures: Greek referendum Greece EU Referendum Pensioner wait to get their pensions outside a National Bank of Greece branch in central Athens. Banks only opened for pensioners to allow them to get their pensions, with a limit of 120 euros. AFP/Getty Images In pictures: Greek referendum Greece EU Referendum Protesters attend an anti-austerity pro-government rally in front of the parliament building Getty In pictures: Greek referendum Greece EU Referendum The possibility of Greece leaving the Eurozone is increasing by the day. Merchandise already exists to accompany the event EPA In pictures: Greek referendum Greece EU Referendum An elderly man waits to receive his pension outside the closed National Bank of Greece headquarters in Athens AP In pictures: Greek referendum Greece EU Referendum People stand in a queue to use an ATM outside a closed bank in Athens AP In pictures: Greek referendum Greece EU Referendum A banner supporting the NO vote in the upcoming referendum hangs from the offices of the Greek Finance Ministry Getty Images In pictures: Greek referendum Greece EU Referendum Greeks will be asked whether they accept the austerity terms demanded by the country's creditors Getty In pictures: Greek referendum Greece EU Referendum Eurozone finance ministers expressed disappointment at the Greek decision to hold a referendum on the bailout terms Getty In pictures: Greek referendum Greece EU Referendum Alexis Tsipras, the Greek Prime Minister, said bailout conditions had ‘asphyxiated’ his country EPA

In contrast, after the Second World War Germany’s war debts were forgiven as part of a plan to rebuild the country.

Germany’s government was less reconciliatory than France’s in the aftermath of the this weekend's vote.

Deputy chancellor Sigmar Gabriel, a social democrat ally of Ms Merkel, said Greek prime minister Alexis Tsipras has “torn down the last bridges” between Greece and the rest of Europe.

Thomas Piketty is most well known for having written the 2013 book Capital in the Twenty-First Century.