Soros: “Portugal and Greece should leave the European Union”

Europe, August 14, 2011

George Soros, American billionaire, said today that both Greece and Portugal should leave the European Union, and said, “the issue has been so badly handled that the problem of Greece is now the problem of the European Union”.

Soros believes that public debts are excessive and suggests that these countries should leave the EU, in an interview with the German magazine Spiegel.

“It has been so badly handled the problem of Greece that the best they could do is to leave the euro area” he said.

Both countries are struggling to implement reforms demanded by the IMF and the Eurozone, but these entail social cuts and tax hikes.

Otherwise “the euro is going to sink,” warns, after they have received ransoms of the European Union and the IMF to avoid the default.