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Soros Says Germany Could Cause Euro Collapse
Posted By admin On June 23, 2010 @ 2:57 am In Money Watch | Comments Disabled
June 23, 2010
German’s budget savings policy risks destroying the European project  and a collapse of the euro cannot be ruled out, billionaire investor George Soros said in a newspaper interview released on Wednesday.
“German policy is a danger for Europe, it could destroy the European project,” said Soros, who earned $1 billion in 1992 by betting against the British pound.
He added in an interview with German weekly Die Zeit that he “could not rule out a collapse of the euro.”
“Right now the Germans are dragging their neighbors into deflation, which threatens a long phase of stagnation. And that leads to nationalism, social unrest and xenophobia. Democracy itself could be at risk,” he said.
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 destroying the European project: http://www.cnbc.com/id/36964361/
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