UK Daily Mail
Feb 26, 2010
The man who broke the Bank of England in 1992 is said to be at the centre of a plot to cash in on the demise of the euro.
Tycoon George Soros’s investment business Soros Fund Management, which he chairs, was among an all-star elite of Wall Street hedge fund bosses at an ‘idea dinner’ on February 8 at a private townhouse in Manhattan, according to reports.
At the exclusive dinner, the speculators argued that the euro is likely to plunge in value to parity with the dollar.
The single currency has been under enormous pressure because of Greece’s debt crisis, plus financial worries in Portugal, Italy, Spain and Ireland.
But, it has also struggled because heavyweight hedge funds have been placing huge bets on the currency’s decline, which could make the speculators hundreds of millions of pounds.
This article was posted: Friday, February 26, 2010 at 10:25 am