By Alan Hall Daily Mail August 16, 2011 Speculator George Soros says both Greece and Portugal should dump the euro and quit the EU because of their massive debts. Soros told Germany’s Der Spiegel magazine that leaving would not kill off the euro – or the EU. Debt-stricken Greece and Portugal are struggling to implement eurozone and International Monetary Fund-mandated reforms by slashing spending and raising taxes in exchange for financial aid.European shares experienced slight gains as investors focused on tomorrow’s meeting between France and Germany to deal with the current financial crisis in the region. President Nicholas Sarkozy and Chancellor Angela Merkel have taken leading roles in the debt crisis and will hold talks and a press conference in Paris. Soros also suggested the time had come for eurozone members to accept the introduction of eurobonds. ‘Whether you like it or not, the euro exists. And for it to function properly, countries sharing the currency must be able to refinance a large part of their debt under the same conditions,’ he said.
Soros calls on Portugal and Greece to pull out of euro and quit the EU ahead of Merkel-Sarkozy debt summit
August 16, 2011 By 5,091 Comments