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Soros warns euro crisis could destroy the EU
Posted By admin On April 17, 2012 @ 3:18 am In Money Watch | Comments Disabled
April 17, 2012
Billionaire George Soros warned on Monday that the euro crisis is growing deeper, tearing at the fabric of European Union cohesion, because policymakers are prescribing the wrong remedies.
“I’m afraid that the euro crisis is getting worse. It’s not over yet, and it is going in the wrong direction,” Soros said in discussion with Denmark’s economics minister hosted by the daily newspaper Politiken.
“The euro is undermining the political cohesion of the European Union, and if it continues like that could even destroy the European Union,” Soros said. “That is due to a misunderstanding of what the problem is.”
Soros, the Hungarian born U.S. investor, said that the creators of the single European currency believed that imbalances were created in the public sector without understanding that markets themselves can create imbalances.
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URLs in this post:
 Reuters: http://www.reuters.com/article/2012/04/16/us-soros-euro-idUSBRE83F15K20120416
 Soros Fears ‘Rebellion’, Warns “The Euro Could Destroy The EU”: http://www.prisonplanet.com/soros-fears-rebellion-warns-the-euro-could-destroy-the-eu.html
 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
 ‘Probably inevitable’ a country will exit euro: Soros: http://www.prisonplanet.com/%e2%80%98probably-inevitable%e2%80%99-a-country-will-exit-euro-soros.html
 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 Says Germany Could Cause Euro Collapse: http://www.prisonplanet.com/soros-says-germany-could-cause-euro-collapse.html
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