Euro collapse can be triggered by Germany

Posted by Sara | Opinion | Thursday 24 June 2010 2:35 am
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Euro collapse can be triggered by Germany“Dangerous” policy decisions in Berlin could destabilize the entire European continent besides leading to the collapse of Euro, according to a warning by Billionaire investor George Soros.

It was remarked by Soros that while the world is more concerned about recession, Germany has more concerns about inflation and this policy can be dangerous for Europe and could trigger collapse of Euro.

From Economictimes.indiatimes.com:

“Unfortunately, a collapse of the euro and the European project cannot be ruled out,” Soros was quoted as saying in the Die Zeit weekly.

“That would be tragic, because then Europe would be threatened by the sort of conflicts between states that have shaped European history,” added Soros.

He said what he termed the “disintegration” of the European Union was already taking place, with “the difference of opinion between Germany and France on economic policy bigger than 10 years ago.”

Paris and Berlin have clashed recently on the best way to shape Europe’s economic architecture in the wake of the debt crisis in Greece and elsewhere in the euro area.

And Soros said that Berlin was “isolated globally” in a debate over deficit reduction ahead of the G20 summit in Toronto over the weekend.

Deficit reduction is critical to economic recovery and growth is not in danger, as per Chancellor Angela Merkel.

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