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Man who broke the Bank of England George Soros ‘at centre of hedge funds betting against crisis-hit euro’

Posted By admin On February 26, 2010 @ 10:25 am In Featured Stories,Money Watch | Comments Disabled

Karl West
UK Daily Mail [1]
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.

Full article here [1]

Man who broke the Bank of England George Soros at centre of hedge funds betting against crisis hit euro 190110banner4 [2]


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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/worldnews/article-1253791/Is-man-broke-Bank-England-George-Soros-centre-hedge-funds-betting-crisis-hit-euro.html

[2] Image: http://www.prisonplanet.tv

[3] Traders splash £5 billion betting against the euro as the single currency falters amid debt crisis: http://www.prisonplanet.com/traders-splash-5-billion-betting-against-the-euro-as-the-single-currency-falters-amid-debt-crisis.html

[4] Hedge funds bet big on the falling euro: http://www.prisonplanet.com/hedge-funds-bet-big-on-the-falling-euro.html

[5] Euro Debt Crisis Is Worse Than US in 2008: George Soros: http://www.prisonplanet.com/euro-debt-crisis-is-worse-than-us-in-2008-george-soros.html

[6] Euro hits four-year low on fears debt crisis will spread: http://www.prisonplanet.com/euro-hits-four-year-low-on-fears-debt-crisis-will-spread.html

[7] Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming: http://www.prisonplanet.com/jacob-rothschild-john-paulson-and-george-soros-are-all-betting-that-financial-disaster-is-coming.html

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