Do we really George Soros to confirm that the breakup of the European Union is catastrophic? Thanks for the insight Mr. Soros. As if it wasn’t clear already that such breakup wouldn’t be good for anyone. Yes, we needed the guru hedge fund manager to sort this all out for us.
“Today, the euro is potentially endangering the political cohesion of the European Union,” the Business Line newspaper cited Soros as saying in the south Indian city of Hyderabad.
“If the common currency were to break down, it will lead to the break up of the European Union itself. And this will be catastrophic not only for Europe but also for the global financial system.” (CNBC)
Soros also added that earthquakes and an ensuing tsunami are all catastrophic to most economies, especially if there’s a nuclear reactor near where the earthquake takes place. Furthermore, Soros went on to add, wisely, that oil spills can also have catastrophic effects on economies and especially the surrounding environment near the oil spill. Lastly, Soros said that lack of jobs can also hurt an economy.