Panorama.am
12:15 21/02/2009
CRISIS HAS MANY SIMILARITIES WITH SOVIET SYSTEM COLLAPSE
Investor and millionaire George Soros compared the current situation
of the world financial-economic crisis to the demise of the Soviet
Union, reports Reuters. He said that the world financial system has
effectively disintegrated, adding that there is yet no prospect of a
near-term resolution to the crisis.
Soros said at a Columbia University dinner the turbulence is actually
more severe than during the Great Depression. He said the bankruptcy
of Lehman Brothers in September marked a turning point in the
functioning of the market system. `We witnessed the collapse of the
financial system,’ Soros said.
Source: Panorama.am