Soros warns Europe of disintegration
By Gillian Tett and Chris Giles in Cambridge
Published: April 11 2010 15:23 | Last updated: April 11 2010 16:55
The eurozone area and wider European Union is now “on the brink” of disintegration unless Germany steps up and provides loans at below-market rates to Greece, George Soros, the hedge fund manager, has warned.
However, Mr Soros added that he still hoped that Germany and others would be willing to forge a last-minute solution, since the consequence of a break-up would be so dangerous. He was speaking before an announcement on Sunday afternoon by eurozone finance ministers of the terms of a support package for Greece.
Financial crisis exposed flaws in economics - Apr-09IMF warns on high public debt - Apr-10“It is 50-50 whether the eurozone breaks up. The damage that break up would cause is so great, that I think that as people realise it, they will pull back from the brink,” Soros told the Financial Times in an i
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