Soros: Euro deal will only last one day to three months

Veteran investor George Soros has attacked the lack of leadership at the top of the eurozone and warned the new rescue deal to solve the debt crisis will only last between "one day and three months".

Soros, who achieved world wide fame when he bet against sterling remaining within the Exchange Rate Mechanism in the 1990s, said the 50% "haircut" on private bond holders would only reduce Greek debt by 20%. He said that was insufficient to stop an economic decline in Greece which would lead to greater social unrest, the Telegraph reports. "Given the magnitude of the crisis it is again too little too late," Soros said. "It will bring relief partly because the markets were so obsessed by the lack of leadership. The mere fact that something was achieved was a major relief and it will be...