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Eurozone on Verge of Economic Collapse
Billionaire George Soros says Europe’s debt crisis has brought the eurozone to the brink of an “economic collapse” and inevitably some of its members will leave the union.
“There’s no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable,” Soros said at a panel discussion in Vienna, Austria on Sunday, Bloomberg reported.
He added, “We are on the verge of an economic collapse which starts, let’s say, in Greece, but it could easily spread. The financial system remains extremely vulnerable.”
“I think most of us actually agree that Europe’s crisis is actually centered around the euro,” the 80-year-old investor added.
June 28, 2011