George Soros :Germany’s Resistance May Prove ‘Fatal’ to Europe
Published: Monday, 25 Jun 2012 | 12:38 AM ET Text Size
By: Jean Chua
Writer for CNBC.com
German Chancellor Angela Merkel has so far rebuffed all proposals to help relieve Spain and Italy from the jump in their borrowing costs and has resisted allowing the European Central Bank (ECB) to step up buying of peripheral sovereign debt. That poses a threat to the region’s stability, Soros said in an editorial in the Financial Times on Monday.
“This threatens to turn the June (28) summit into a fiasco which may well prove fatal because it will leave the rest of the euro zone without a strong enough firewall to protect it against the possibility of a Greek exit,” Soros wrote.
