Legendary investor George Soros said today that the troubles Europe faces are as serious as those that caused the Soviet Union to collapse, according to WSJ.
From that report:
“Europe is similar to the Soviet Union in the way that the euro crisis has the potential of destroying, undermining the European Union,” he said in a debate on public policy education Tuesday. “With the profound social, economic and moral crisis that Europe is in, we can see a similar process of disintegration.”
Soros has long spoken ominously about the eurozone’s prospects for survival as a monetary union, writing in an FT column that the region may have entered “a less volatile but more lethal phase” of its sovereign debt and banking crises.