Soros Says Euro Crisis Is on ‘Way to Being Solved’

Billionaire investor George Soros said that while Europe’s debt crisis is “on the way to being solved,” structural imbalances in the single-currency region may lead to the eventual political “disintegration” of Europe.

“The euro crisis is on the way to being solved because there was a missing element in the euro, a fiscal element” that has now been addressed, Soros said in an interview broadcast today on BBC Radio 4’s “Today” program. “You had a European central bank, but you didn’t have any common Treasury. That common Treasury is being established with the emergency fund that will be turned into something permanent and is going to be enlarged.”