Prominent economists who predict the fall of the euro are not concentrating on the facts, according to Klaus Regling, managing director of the European Stability Mechanism, who told CNBC that the European Union and the single currency were a success.
"The crisis is behind us," he said on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Washington D.C. on Thursday.
The European Stability Mechanism, or ESM, is a crisis resolution mechanism set up for euro area countries and generates money by selling bonds in the global financial markets. Regling said that officials in the region had taken many steps to make the euro area function better and dismissed the views of economists such as Paul Krugman and Joseph Stiglitz.
Nobel prize–winning Stiglitz, who has written a book about his gloomy predictions, told CNBC in August that the structure of the euro zone had "doomed" the euro currency to "failure."
Krugman, meanwhile, has used his New York Times column on several occasions to voice his distaste for the currency, saying in July 2015 that "the euro has turned into a Roach Motel, a trap that's hard to escape."
However, Regling told CNBC that he had grown used to these sorts of predictions over the years but stressed that they had usually been proven wrong.