The famed hedge fund manager, George Soros, thinks that after election Greece will stick by current bailout agreements but would find it impossible to do so. further more, German economy will start to weaken by fall 2012.
“The Greek crisis is liable to come to a climax in the fall. By that time the German economy will also be weakening so that Chancellor (Angela) Merkel will find it even more difficult than today to persuade the German public to accept any additional European responsibilities. That is what creates a three-month window,” he said.
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The Hungarian-born U.S. financier said that all the “blame and burden” of adjusting the euro area’s imbalances was falling on weaker peripheral countries, but the bloc’s core bore an ever greater responsibility for the crisis.
