Soros: Eurozone dissolution fraught with dire consequencesNovember 9, 2011 - 19:27 AMT PanARMENIAN.Net - A possible dissolution of the eurozone could have consequences graver than those of the Great Depression, according to renowned financier George Soros. Tuesday the billionaire was on a visit to the European Parliament in Brussels, after which he commented recent developments in the eurozone financial crisis. "At present the euro is able to take the shock from crisis in Greece, including a default, given that Europe prepares adequately," said Soros. He also commented that recent proposals from countries such as China and Brazil to join the rescue efforts were not good for the European monetary union. "I think that the European Financial Stability Facility is sufficient to tackle the crisis," said Soros, adding that given that adequate efforts are put into place, stability could be reached within 3 months. According to Soros, it might be at present better for some countries to stay out of the eurozone, its dissolution, for which some have speculated, is sure to lead to disastrous financial consequences for the EU and beyond, Novinite reported. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Exclusive access to all EURO 2024 games for Ucom subscribers This year once again Ucom stands as the primary partner of UEFA EURO 2024 in Armenia. Armenia, U.S. to upgrade Strategic Dialogue meeting to Strategic Partnership Commission The two governments have release a statement on the occasion of the U.S.-Armenia Strategic Dialogue Capstone meeting. Azerbaijan complains to Germany about Armenia's constitution Bayramov has complained about the Armenian constitution to his German counterpart Annalena Berbock. idcoin: New tool in IDBank’s loyalty system IDBank has announced the launch of idcoin, a new tool in the customer loyalty system. |