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| Europe |
| 'Eurozone on verge of economic collapse' |
| 2011-06-28 |
| [Iran Press TV] Billionaire George Soros says Europe's debt crisis has brought the eurozone to the brink of an "economic collapse" and inevitably some of its members will leave the union. "There's no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable," Soros said at a panel discussion in Vienna, Austria on Sunday, Bloomberg reported. He added, "We are on the verge of an economic collapse which starts, let's say, in Greece, but it could easily spread. The financial system remains extremely vulnerable." "I think most of us actually agree that Europe's crisis is actually centered around the euro," the 80-year-old investor added. "It's a kind of financial crisis that is really developing. It's foreseen. Most people realize it. It's still developing. The authorities are actually engaged in buying time. And yet time is working against them," he said. The comments come as Greek politicians are debating a new round of austerity measures tied to the country's bailout. A vote is expected on Wednesday amid widespread protests against plans to further slash the public sector and hike taxes. Greece was the 12th country to adopt the shared currency in 2001, while Estonia is the newest member of the euro region, joining in January 2011. |
| Posted by:Fred |
| #5 CHINESE MILITARY FORUM > EUROPEANS LOOK AT CHINA TO SAVE THEIR ECONOMIES | [Telegraph.UK] ENTER THE DRAGON TO SAVE THE EURO. IT IS IN THE INTERESTS OF CHINA TO HELP RESOLVE THE [various]EUROZONE DEBT CRISES, BUT CHINESE PRESIDENT WEN JIABAO, WHO IS VISITING BRITAIN + CONTINENTAL EUROPE, WILL WANT A SHARE OF THE WEST'S BUYING POWER IN RETURN. * Also from SAME > CHINESE PREMIER WEN JIABAO PROMISED TO HELP STRUGGLING EUROPEAN ECONOMIES BY BUYING MILYUHNS IN DEBT BONDS. UK = Beijing's promotion + protection of FREE SPEECH in China [however imperfect?] is its BEST DEFENSE FOR ECON + DOMESTIC STABILITY. * WAFF > GREEK ARMY THREATENS COUP! THE JUNTA IS BACK. | GREEK ARMY THREATENS MILITARY COUP SPARKING FEARS OF MILITARY UPRISINGS + CIVIL WARS ACROSS ALL OF EUROPE | .... MILITARY OFFICERS + POLICE FORCES ARE NOW JOINING THE PROTESTS. * SAME > IFF THE BUDGET IS NOT APPROVED, THE GREEK MILITARY WILL TAKE ACTION!? * TOPIX > FEARS OF MILITARY, POPULAR REVOLT MAR GREECE AUSTERITY VOTE. versus * NEWSMAX > REPORT PREDICTS CHAOS IFF US PRIORITIZES [Debts']PAYMENTS, presuming that Wahington, DC fails to raise US DEBT LIMIT CEILING BY AUGUST 2, 2011. The US Treasury Dept. may fail to meet 40-45% of its monthly 80.0 MILYUHN types of payments in outstanding obligations it must make per month. ARTIC = Between 08/3, 2011 + 08/31/2011, the US Treas will have a budget shortfall/deficit of US$135.0Bilyuhn it will be seriously struggling to meet unless the US Congress raises the curren debt ceiling??? |
| Posted by: JosephMendiola 2011-06-28 22:39 |
| #4 Just why is Schwartz György still sucking oxygen anyway? He must have enemies everywhere, surely some are powerful enough to reach him. |
| Posted by: Secret Asian Man 2011-06-28 18:53 |
| #3 Stable situations are boring for those who want to make a fast buck. |
| Posted by: European Conservative 2011-06-28 18:11 |
| #2 Geroge is doing what he does best. Making money from politicians spending OPM to try to save their own hide. |
| Posted by: Bright Pebbles 2011-06-28 08:50 |
| #1 So what's George doing, other than talking, to bring about this collapse? |
| Posted by: Bobby 2011-06-28 06:33 |