News - Investment
Categories: Investment
Topics: George soros | Europe
Billionaire investor George Soros has warned the eurozone’s debt problems could potentially be worse than the Lehman Brothers’ collapse due to a lack of leadership on the Continent.
The hedge fund manager said European policymakers will not come up with measures to help fund European banks, with shares now back at their lowest point since March 2009.
In an interview with The New York Times, Soros said eurozone leaders have no idea how they will give markets a much needed boost.
He added with no plan in place, Europe's banks will struggle to ride out the crisis.
"This crisis has the potential to be a lot worse than Lehman Brothers," said Soros.
"The lack of an authoritative pan-European body to handle a banking crisis of this severity is causing a huge problem.
"You need a crisis to create the political will for Europe to create such an authority, but there is still no understanding as to what the authority will do."
Categories: Investment
Topics: George soros | Europe
Comments
MP Experience
I echo the above sentiment, but the problem with politicians today is that they are career politicians - that is all they have ever done - get a degree at Oxford or Cambridge, get a job as a researcher or assistant in house of commons or Brussels, get selected to stand for parliament, get elected.
very few MP's now have any life experience outside the political sphere, so have never learned to think differently, or have had to apply themselves in a business environment to complex problems.
Posted by: Paul Burnside
08 Sep 2011 | 13:32
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Debt Crisis
It is times like these when it becomes obvious that politicians lack the experience, the knowledge, the intelligence and the 'balls' to actually do anything useful. They're great at handshaking, going to summits, spending out money on useless projects like the Olympic Games or spouting hot air - but as soon as there is an emergency they prove their worth - £zilch!
Posted by: Bill Wells
08 Sep 2011 | 08:53
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