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‘Probably inevitable’ a country will exit euro: Soros

Posted By admin On June 27, 2011 @ 2:51 am In Money Watch | Comments Disabled

Reuters [1]
June 27, 2011

Billionaire investor George Soros thinks a country will eventually exit the euro zone and urged policymakers on Sunday to come up with a “plan B” that could rescue the European Union from looming economic collapse.

Soros, famous for making $1 billion by betting against the British pound in 1992, did not name any country he thought might exit the currency, but speculation is mounting about the fate of Greece as its politicians struggle to agree more austerity measures demanded by international lenders as the price for staving off bankruptcy.

Soros reiterated his view in a panel discussion in Vienna that the euro had a basic flaw from the start in that the currency was not backed by political union or a joint treasury.

“The euro had no provision for correction. There was no arrangement for any country leaving the euro, which in the current circumstances is probably inevitable,” he said.

Full article here [1]

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‘Probably inevitable’ a country will exit euro: Soros   260310banner2 [3]


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URLs in this post:

[1] Reuters: http://www.rawstory.com/rs/2011/06/26/probably-inevitable-a-country-will-exit-euro-soros/

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://purewaterfreedom.com/

[4] Soros warns euro crisis could destroy the EU: http://www.prisonplanet.com/soros-warns-euro-crisis-could-destroy-the-eu.html

[5] Euro Officials Begin to Weigh Greek Exit: http://www.prisonplanet.com/euro-officials-begin-to-weigh-greek-exit.html

[6] Biggest Greek bank warns of dire euro exit fallout: http://www.prisonplanet.com/biggest-greek-bank-warns-of-dire-euro-exit-fallout.html

[7] Bookmaker bets Greece will exit euro by end of 2012: http://www.prisonplanet.com/bookmaker-bets-greece-will-exit-euro-by-end-of-2012.html

[8] War-Gaming Greek Euro Exit Shows Hazards In 46-Hour Weekend: http://www.prisonplanet.com/war-gaming-greek-euro-exit-shows-hazards-in-46-hour-weekend.html

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