George Soros, the famous hedge fund manager, has a lot to say about the economy. Soros rose to fame after he made $1 billion betting against the British sterling in the early 1990s and many more millions since, so he understands more than most about the economy.
George Soros Calls Measures Insufficient
George Soros has been very vocal about the Eurozone debt crisis in particular as of late. He has talked about his plan to save the Eurozone and offered suggestions for debt restructuring. Now that EU officials have reached some agreement Soros is criticizing that measure, saying at “the new Brussels deal to solve the debt crisis will only last between one day and three months,” reports the Telegraph. He criticized the plan, saying “that the 50pc “haircut” on private bond holders would only reduce Greek debt by 20pc.” Soros said the measure “was insufficient to stop an economic decline in Greece which would lead to greater social unrest.”