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IPFS News Link • European Union


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. EDITOR’S CHOICE 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

1 Comments in Response to

Comment by Ross Wolf
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Perhaps Soros is more interested about protecting his own hedge funds.

It was ridiculous from the beginning to have one currency for several countries when separately their production and debts are radically differenent.