Soros Says EU Breakup Would Be "Catastrophic"
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George Soros stated a breakup of the euro or European Union would be "catastrophic" for the global financial system.
Mr. Soros believes the current situation in Europe is "more serious" than the economic collapse in 2008, reports Reuters. He acknowledges some countries within the Union in the near-term may have to take certain measures and sacrifices for the best interest of the group.
George Soros's statement is largely true when it comes to the short-term, but in the long haul countries should act in their own best interest. Many analysts and investors are showing their support for the Union and euro, while it may be more realistic to say people will be laughing at the idea of one currency among a number of countries in the future.
Mr. Soros believes the current situation in Europe is "more serious" than the economic collapse in 2008, reports Reuters. He acknowledges some countries within the Union in the near-term may have to take certain measures and sacrifices for the best interest of the group.
George Soros's statement is largely true when it comes to the short-term, but in the long haul countries should act in their own best interest. Many analysts and investors are showing their support for the Union and euro, while it may be more realistic to say people will be laughing at the idea of one currency among a number of countries in the future.
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