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26 June, 2010

Euro 'Collapse' Could Drag Europe Into Conflict

Express.co.uk - Home of the Daily and Sunday Express | UK News :: Euro 'collapse' could drag Europe into conflict: "THE euro is on the verge of a collapse that could drag Europe into conflict, billionaire financier George Soros warned yesterday.

The veteran investor said massive budget cuts proposed by Germany could destabilise the European Union by dragging down its neighbours’ economies.

He said: 'German policy is a danger for Europe. Unfortunately, a collapse of the euro and the European project cannot be ruled out.

'That would be tragic because then Europe would be threatened by the sort of conflicts between states that have shaped European history'...

... Hungarian-born Mr Soros warned: 'The Germans are dragging their neighbours into deflation, which threatens a long phase of stagnation.

'That leads to nationalism, social unrest and xenophobia. Democracy itself could be at risk'..."

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