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Eurosceptic MEP Mr Farage accused the eurozone of being the main cause of the return of the far-right and a wave of extreme nationalism on the continent. In a blistering attack against the EU and the euro currency Mr Farage said that by depriving people of taking free decisions about their future the bloc has crumbled instead of thrived. Far-right parties such as the AfD in Germany and Golden Dawn in Greece have made huge gains in recent months. Mr Farage said: “I am very concerned that the euro has brought neo-Nazism back.

I am very concerned that the euro has brought neo-Nazism back Nigel Farage

“Golden Dawn only happened because Greece is in the euro. “And here is the irony: A project that was set up to stop the extremes of nationalism actually is causing it, because it is taking away from people their ability to influence their own futures.” The credit crunch and global recession are the main causes of the high level of unemployment recorded in many EU state members which has fuelled a wave of populism and in some countries far-right movements. Eurozone countries cannot devalue their currency as the monetary policy is set by the European Central Bank, which does not always act according to the need of single nations and the bloc's currency has had a wide-reaching impact, according to top macroeconomist Sir Patrick Minford.

Nigel Farage said the euro helped bringing neo-Nazism back

Far-right wing party Afd became the main opposition party in Germany in 2017

The unemployment rate in the euro area in December 2016 was 9.6 percent, with Greece recording a whopping 23 percent, followed by Spain (18.4 percent) and Italy (12 percent), according to official data released by Eurostat. Despite both total and youth unemployment rates decreasing from 2015, the data shows millions of people out of job which, according to Sir Patrick, helped far-right parties to seize power in EU member states with a weak economy. Sir Patrick told Express.co.uk: “The collapse of the euro economy, which has particularly affected the south of Europe, is having a polarising effect on the opinions of Europeans. “In these countries you see young people’s unemployment as high as 40 per cent, a whole generation is without a job.

Nigel Farage blamed the euro for the rise of Golden Dawn in Greece