The Financial Landscape: Gas Is Falling; the Euro's Failing; U.S. Bondholders, Start Bailing
Soros Sees a Euro Exit Coming: George Soros, the billionaire investor who got even richer betting against the British pound, predicts it is now "probably inevitable" that a country will leave the euro -- a development for which no enabling mechanism currently exists. Challenging the view of Europe's crisis as a sovereign debt issue, Soros explained, "I think most of us actually agree that [it] is actually centered around the euro. It's a kind of financial crisis that is really developing.... The authorities are actually engaged in buying time. And yet time is working against them."
Keeping his criticism constructive, Soros encouraged the development of a "plan B" to save the European Union, the preservation of which he called "a vital interest to all." But judging from the tenor of his comments, who wants to bet that Soros -- one of those storied investors whose pronouncements have the potential to move markets -- has recently taken some heavily anti-euro positions?