The legendary FX trader also said that the start of European QE at the same time the U.S contemplates raising interest rates "probably creates some great opportunities for hedge funds but I'm no longer in that business.”
There is now a fifty-fifty chance that Greece will leave the euro and get back on the drachma, leading the country to go “down the drain,” self-made billionaire George Soros said.
Soros is probably the most well-known FX trader in the world and a figure many turn to for analysis of the markets. He secured his place in the economic history books as the infamous "man who broke the bank of England" in 1992, by betting against the pound, forcing the U.K out of an Exchange rate regime.
Speaking in a Bloomberg TV interview in his London home due to air today, Soros commented on the prospects of Greece breaking away from the euro zone, cross Atlantic interest divergence and the crisis in Ukraine.
Referring to the chance a country may for the first time ever abandon the common European currency, he said, “It’s now a lose-lose game and the best that can happen is actually muddling through. Greece is a long-festering problem that was mishandled from the beginning by all parties.”
The bodies trying to mitigate the crisis, the European Commission, the European Central Bank (ECB) and the International Monetary Fund, might fail in their negotiations with Greece’s far left Syriza government, which could result in a “breakdown,” Soros said.
“You can keep on pushing it back indefinitely, making interest Payments without writing down debt", Soros said. “But in the meantime there will be no primary surplus because Greece is going down the drain.”
“Right now we are at the cusp and I can see both possibilities.”
Great Opportunities
Beyond the Greek drama, Soros also spoke about other issues he thinks the world should pay attention to. The launch of quantitative easing by the ECB at a time when the U.S. Federal Reserve contemplates raising interest rates “creates currency fluctuations,” he said.
“That probably creates some great opportunities for hedge funds but I’m no longer in that business,” the founder of the Soros Fund Management claimed.
Additionally, Hungary-born Soros said the war in eastern Ukraine between the Kiev government forces and Russian-speaking rebel militia supported by President Vladimir Putin concerned him the most.
Without more external financial assistance the “new Ukraine” will probably gradually deteriorate and “become like the old Ukraine so that the oligarchs come back and assert their power,” he said. “That fight has actually started in the last week or so.”
There is now a fifty-fifty chance that Greece will leave the euro and get back on the drachma, leading the country to go “down the drain,” self-made billionaire George Soros said.
Soros is probably the most well-known FX trader in the world and a figure many turn to for analysis of the markets. He secured his place in the economic history books as the infamous "man who broke the bank of England" in 1992, by betting against the pound, forcing the U.K out of an Exchange rate regime.
Speaking in a Bloomberg TV interview in his London home due to air today, Soros commented on the prospects of Greece breaking away from the euro zone, cross Atlantic interest divergence and the crisis in Ukraine.
Referring to the chance a country may for the first time ever abandon the common European currency, he said, “It’s now a lose-lose game and the best that can happen is actually muddling through. Greece is a long-festering problem that was mishandled from the beginning by all parties.”
The bodies trying to mitigate the crisis, the European Commission, the European Central Bank (ECB) and the International Monetary Fund, might fail in their negotiations with Greece’s far left Syriza government, which could result in a “breakdown,” Soros said.
“You can keep on pushing it back indefinitely, making interest Payments without writing down debt", Soros said. “But in the meantime there will be no primary surplus because Greece is going down the drain.”
“Right now we are at the cusp and I can see both possibilities.”
Great Opportunities
Beyond the Greek drama, Soros also spoke about other issues he thinks the world should pay attention to. The launch of quantitative easing by the ECB at a time when the U.S. Federal Reserve contemplates raising interest rates “creates currency fluctuations,” he said.
“That probably creates some great opportunities for hedge funds but I’m no longer in that business,” the founder of the Soros Fund Management claimed.
Additionally, Hungary-born Soros said the war in eastern Ukraine between the Kiev government forces and Russian-speaking rebel militia supported by President Vladimir Putin concerned him the most.
Without more external financial assistance the “new Ukraine” will probably gradually deteriorate and “become like the old Ukraine so that the oligarchs come back and assert their power,” he said. “That fight has actually started in the last week or so.”
Devexperts Checks Off Type 2 SOC 2 Audit for Enhanced Data Security
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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