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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

CNBC [1]
June 23, 2010

German’s budget savings policy risks destroying the European project [2] 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.

Full article here [1]


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[1] CNBC: http://www.cnbc.com/id/37865858

[2] destroying the European project: http://www.cnbc.com/id/36964361/

[3] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

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