As fiscal conditions worsen and governments feel pressure from fellow EU members and their own citizens to curb their deficits, a double dip recession seems more likely. George Soros sees it as "Act II of the drama."
"The collapse of the financial system as we know it is real, and the crisis is far from over. Indeed, we have just entered Act II of the drama," Soros said at a conference in Vienna.
Soros added that the current situation is similar of the 1930s, with governments under pressure to reduce their budget deficits while having a fragile economy.
"The collapse of the financial system as we know it is real, and the crisis is far from over. Indeed, we have just entered Act II of the drama," Soros said at a conference in Vienna.
Soros added that the current situation is similar of the 1930s, with governments under pressure to reduce their budget deficits while having a fragile economy.
