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John Paulson Said to See 50% Chance That Euro Will Fail

Billionaire hedge-fund manager John Paulson told clients he sees a 50 percent chance the euro will unravel, said an investor who listened to the comments.

An event causing a breakup may happen in three months to two years, Paulson said on a conference call today reviewing second-quarter performance, according to the investor, who asked not to be named because the call was private. Paulson, who runs Paulson & Co., said he expects sovereign yield spreads to widen.