By the End Of March, Euro will cease to exist

The next administration might not stick to the arrangement, according to Soros, the 80-year-old investor who became renowned in the early 1990s after betting against the pound. National elections in Ireland will probably take place in March, with the ruling Fianna Fail party trailing the opposition Fine Gael by 17 percentage points in the latest opinion poll.




‘Politically Unacceptable’



That next government “is bound to repudiate the current arrangements,” Soros said in his Dec. 14 article for the FT. Soros called the protection of senior bank bondholders “politically unacceptable’,’ and said interest rates charged on rescue packages should be lowered to avert the risk “that the euro may destroy the political and social cohesion of the EU.” Ireland will pay an average 5.8 percent interest rate on the aid.