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Macroeconomics  |  March 25, 2013 14:01:09

Hugh Hendry was right. Confiscation of assets in Europe began

Co-founder and Director hedgového Fund Eclectica Asset Management, Hugh Hendry during the discussion panel at the Milken Institute's 2012 Global Conference exactly a year ago talking about his fear of Europe. Most feared possible confiscation of their property and clients. Cyprus crisis is just a small example of that situation well Hendry estimated.

According to Hendry is the future of the monetary union depends on how you manage to survive the banking system. His problems can be said to have ended nationalizing financial institutions in various countries.

"I fear confiscation," Hendry explains his reluctance to invest in Europe. "This is the money of clients and my own. I think within a year we will see the nationalization of banks in France."

Interview with Hugh Hendry found on the web Investment

Read also:

Great Eurozone crisis waiting on the mainland, not on a small island

Great Eurozone crisis waiting on the mainland, not on a small island

Among the list of ailing European economies were still only so-called PIIGS countries. All last week dominated the headlines Cyprus. The economic situation is deteriorating fast, but also in France and Slovenia.

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