Euro Zone Has Three Months to Avoid Lost Decade Says Soros

Billionaire investor George Soros has warned the euro zone nations they have three months to save themselves from a lost decade similar to that in South America in the 1980s and Japan in the 1990s.

Speaking at a conference in Italy over the weekend, Soros said: 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.