Soros issues stark warning on euro crisis
George Soros, the billionaire investor and chairman of Soros Fund Management, says the euro-zone debt crisis is "more dangerous" than the global downturn of 2008.
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His comments yesterday came as the leaders of the bloc's two biggest economies met to try to calm the turmoil now entering a third year. Mr Soros said the euro zone faced a period of "draconian austerity" as a result of cost-cutting measures.
"We have a more dangerous situation now than in 2008," Mr Soros was quoted as saying in Bangalore, India. "The crisis in Europe is more serious than the crash of 2008."
Any collapse of European banks would have global consequences, said Mr Soros... http://www.thenational.ae/business/banking/soros-issues-stark-warning-on-euro-crisis