George Soros Talking the Euro to ‘Death’

First it was the “Death Spiral,” now it is the “Death Circle.”

George Soros told a Greek TV station last night that the government in Athens is facing the prospect of both recession and falling budget revenue if yields on Greek debt remain this high.

The comments will be as welcome in Athens, Brussels and Berlin as giant cloud of ash as authorities across the euro zone fret over the impact of the European Union/International Monetary Fund rescue package.

Soros, who made more than $1 billion shorting the pound out of the European Exchange Rate Mechanism in 1992, has been highly critical of the rescue package terms that he says Athens has no choice but to accept.

"I think it is necessary because the market interest rate is really far too high to make it possible for Greece to meet the conditions that are required of it,” he said, according to Reuters. Read more