- Prison Planet.com - http://www.prisonplanet.com -
Euro Debt Crisis Is Worse Than US in 2008: George Soros
Posted By admin On September 25, 2011 @ 5:20 am In Featured Stories | Comments Disabled
Sept 25, 2011
WASHINGTON—Europe lacks the same mechanisms that the U.S. had to deal with its financial crisis three years ago, making the dangers even greater, billionaire investor and activist George Soros said.
The U.S. Treasury Department in 2008 helped devise and implement the myriad liquidity programs used to recapitalize big banks and reassure investors when questions arose over their stability and integrity of deposits.
But uncertainty over what would happen in a run on European banks has added to the volatility of the European debt crisis.
“The European crisis is more serious than the crisis of 2008,” Soros said in an appearance at the meeting here of the World Bank and International Monetary Fund . “The authority needed (in 2008) was in place.”
Soros, who has for many years supported various liberal political causes, has called for a number of measures to take on the European Union sovereign debt crisis, including the establishment of a unified Treasury.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/euro-debt-crisis-is-worse-than-us-in-2008-george-soros.html
URLs in this post:
 CNBC.com: http://www.cnbc.com/id/44653617
 Man who broke the Bank of England George Soros ‘at centre of hedge funds betting against crisis-hit euro’: http://www.prisonplanet.com/man-who-broke-the-bank-of-england-george-soros-at-centre-of-hedge-funds-betting-against-crisis-hit-euro.html
 SOROS: Eurozone Crisis Could Be Worse Than Lehman: http://www.prisonplanet.com/soros-eurozone-crisis-could-be-worse-than-lehman.html
 Soros warns euro crisis could destroy the EU: http://www.prisonplanet.com/soros-warns-euro-crisis-could-destroy-the-eu.html
 Paper: Financial Crisis Worse Than 2008: http://www.prisonplanet.com/paper-financial-crisis-worse-than-2008.html
 Three Months to Save the Euro: George Soros: http://www.prisonplanet.com/three-months-to-save-the-euro-george-soros.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.