Bernard Connolly

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Bernard Connolly is a British economist noted for his pessimistic analysis of the euro. He is known for writing The Rotten Heart of Europe: The Dirty War for Europe's Money.


Connolly worked in the Industrial Trends and Forecasting Unit of the Confederation of British Industry.

Before joining AIG Connolly had spent a number of years working with the European Commission in Brussels, where he was head of the unit responsible for the European Monetary System and monetary policies. While at the Commission Connolly was a Member of the Monetary Policy and Foreign Exchange Policy sub-committees of the Committee of Central bank Governors and was on the OECD Group of High-Level Monetary Experts.

After writing The Rotten Heart of Europe: The Dirty War for Europe's Money, a negative treatment of the European Exchange Rate Mechanism, he was terminated in 1995 from his employment at the European Commission. An appeal of his dismissal to the European Court of Justice was unsuccessful.[1]

Prior to establishing CI, Connolly had spent 11 years as the global strategist for Banque AIG and AIG Trading.

As of 2011, Connolly, 61, was working as a financial consultant in New York City.[2]

Connolly currently heads Connolly Insight LP and participates in Hamiltonian Associates.[citation needed]

He continues to have a negative view on the euro, and is a strong supporter of Brexit.[3]


The publication of The Rotten Heart of Europe led the Wall Street Journal Europe to name Connolly as one of its outstanding Europeans of the year in 1995 and in March 2001 he received the Frøde Jakobsen prize, awarded in Denmark for outstanding moral courage in public affairs. More recently, Bank of Canada Governor Mark Carney has identified Connolly as one of the very few economists who predicted the current global economic and financial crisis.[citation needed]


  • The Rotten Heart of Europe: The Dirty War for Europe's Money


  • Europe – Driver or Driven? EMU and the Lust for Crisis, ACI Congress, May 30, 2008


  1. ^ Ambrose Evans-Pritchard (March 7, 2001). "Euro-court outlaws criticism of EU". The Telegraph. Retrieved November 19, 2011. The ruling stated that the commission could restrict dissent in order to "protect the rights of others" and punish individuals who "damaged the institution's image and reputation"
  2. ^ Landon Thomas Jr. (November 17, 2011). "Words of a Euro Doomsayer Have New Resonance". The New York Times. Retrieved November 18, 2011.
  3. ^ Brian M. Carney (February 23, 2013). "Why the Euro Crisis Isn't Over". Wall Street Journal. Retrieved February 24, 2013.

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