jamaica patriotic movement

|

Soros says EU breakup would be catstrophic..

 

Reuters) - A collapse of the euro and break-up of the European Union would have catastrophic consequences for the global financial system, billionaire investor George Soros was quoted as saying.

"Today, the euro is potentially endangering the political cohesion of the European Union," the Business Line newspaper cited Soros as saying in the south Indian city of Hyderabad.

"If the common currency were to break down, it will lead to the break up of the European Union itself. And this will be catastrophic not only for Europe but also for the global financial system."

The euro zone crisis is "more serious and more threatening than the crash of 2008," the Economic Times reported, quoting Soros.

In the near term, some of the euro zone countries may have to take more austerity measures because of the imbalances between the "creditor and the debtor countries," Soros said at a business school event, the Mint newspaper reported.

"Unfortunately, they haven't yet solved the acute financial crisis and that is causing the situation to deteriorate...and (it) is not at all clear it will have a solution," he said.

(Writing by Sumeet Chatterjee in MUMBAI; Editing by Ranjit Gangadharan)

Jamaica Patriot

Writing about the realities faced by the oppressed people across the world
Category: The Patriot |

Help Us Help OthersPlease Donate Today

Donations are processed securely by PayPal©™

When you click the button you will be transfered to PayPal.com to complete the payment then after successful payment you will be returned to our website.

Note: You do not need to have a PayPal account to donate. There is an option link to use your credit card.

See Option Instruction

Sources

granma.jpg

peoples-world.jpg

democracy-now.jpg

transafrica.jpg

vietnam-news.jpg

anc.png

abla.jpg

th.jpg

xinuha.jpg

The Jamaica Patriot Purpose

This is an attempt to create a revolutionary movement to arrest the social decline of our country and reverse foreign domination of our economic and political life through the co-operation of our two political parties.

Copyright © 2018 Jamaica Patriot. All Rights Reserved.