Possible collapse of euro on the horizon and will hit global financial system: George Soros

HYDERABAD, JAN 5:
The collapse of the euro will have catastrophic consequences not only for Europe but for the global financial system because of inter-connectedness, said Mr George Soros, Chairman of Soros Fund Management which has assets of about $27 billion.
The euro-zone debt crisis is a direct consequence of the crash of world economy in 2008 and weakening of the currency may lead to the break-up of the European Union itself, he said at an interactive session here today.
“If the common currency broke down, it will then lead to the break-up of the European Union itself. So it is political problem. Thus, euro crisis in my opinion is something more serious and more threatening than the crash of 2008,” he added.

About George Soros: He is known as one of the most successful investors in the world. More about him: http://www.investopedia.com/university/greatest/georgesoros.asp#axzz1ii5XKU69

Read full at: http://www.thehindubusinessline.com/industry-and-economy/article2777983.ece

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