George Soros warns British EU exit would trigger foreign company exodus

Coming from the man who almost single-handedly broke the British Sterling Pound and is a convicted criminal in France:

Billionaire speculator cautions over job losses but says Europe could still be pulled apart by deflation and slow growth

Billionaire speculator George Soros on Wednesday waded into the political row about Britain’s membership of the EU with a warning that a decision to quit would lead to an exodus of foreign-owned companies.

Soros said the argument for Britain remaining part of the EU could be summed up in one word – jobs – as he outlined his concerns that Europe could be pulled apart by decades of slow growth and Japanese-style deflation. Continue reading

Euro plummets after ECB warns currency zone may need more support

European Central Bank head Mario Draghi says Japanese-style stagnation possible amid high unemployment and falling inflation

The European Central Bank sent the euro tumbling on world markets after it warned that the 18-member currency zone may need further support to prevent a Japanese-style period of stagnation.

The ECB president, Mario Draghi, said persistently high unemployment, falling inflation and difficult lending conditions were harming the recovery, and the ECB stood ready to use all the tools available to maintain confidence and growth. Continue reading