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Soros: Eurozone Dissolution Fraught With Dire Consequences

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A possible dissolution of the eurozone could have consequences graver than those of the Great Depression, according to renowned financier George Soros.

Tuesday the billionaire was on a visit to the European Parliament in Brussels, after which he commented recent developments in the eurozone financial crisis.

“At present the euro is able to take the shock from crisis in Greece, including a default, given that Europe prepares adequately,” said Soros.

He also commented that recent proposals from countries such as China and Brazil to join the rescue efforts were not good for the European monetary union.

“I think that the European Financial Stability Facility is sufficient to tackle the crisis,” said Soros, adding that given that adequate efforts are put into place, stability could be reached within 3 months.

According to Soros, it might be at present better for some countries to stay out of the eurozone, its dissolution, for which some have speculated, is sure to lead to disastrous financial consequences for the EU and beyond, Novinite reported.

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PanARMENIAN

PanARMENIAN Network is the first Armenian online news and analytical agency and one of the most cited Armenian informational resources worldwide.

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