Soros: 50% Chance The Eurozone Disintegrates

George Soros

Just a reminder — George Soros is still quite bearish on the prospects for the Eurozone.

Over the weekend he said the following:


“It is 50-50 whether the eurozone breaks up. The damage that break up would cause is so great, that I think that as people realise it, they will pull back from the brink,” Soros told the Financial Times in an interview. “But we are at the brink now…a solution has to be found in a matter of days.”

“Currency traders find it very difficult right now to speculate because public opinion is very much aroused. If I were running a hedge fund now I would be wary of making money because the political consequences would be too severe,” he said. “I don’t think that hedge funds are playing much of a role [in the current crisis] – it is not fertile ground. There is a kind of witch-hunt looking for someone who is profiting.”

Thanks to politics, sometimes one can be right in terms of making the economically-based market call, but end up losing because of politicians’ love for shooting the messenger.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.