European crisis more dangerous than 2008: Soros

Europe's debt crisis is more dangerous than the 2008 global financial crisis, billionaire investor George Soros said. "We now have a crisis, which in my opinion is even more serious than the crash of 2008," Soros said on Monday at a business event in the southern Indian city of Bangalore.
"You had the institutions that were necessary to control the situation (in 2008) - a functioning central bank, the Federal Reserve system, and a functioning Treasury," he said. "In the case of the euro, you have a European Central Bank but you don't have an European treasury. That institution is missing , " he said.
Soros, who made investment history by earning $1 billion with a bet against the British pound two decades ago, said last week that a collapse of the euro and break-up of the European Union would have catastrophic consequences for the global financial system.