Joseph Stiglitz thinks Brexit changed the face of the Eurozone, leading to overt criticism of the common currency and making the overall break-up of the Union more likely.

Italy could prove to be the next nation to leave the Brussels bloc, according to Mr Stiglitz, a former chief economist at the World Bank and senior advisor to president Bill Clinton.

The country’s banks are weighed down by more than £300billion of bad debt but cannot be bailed out under EU rules unless creditors take a financial cut first.

Embattled prime minister Matteo Renzi says he will resign if he loses the October referendum on constitutional reform, which could allow the anti-establishment Five Star Movement, which has promised the public it will hold a vote on whether or not to remain in the Euro.