George Soros provided his latest commentary on the European sovereign debt crisis in a Financial Times editorial, saying that euro zone policymakers have to develop a “plan B” to avoid contagion.
“Greece is heading towards disorderly default and/or devaluation,” Soros wrote. “A Greek default may be inevitable but it need not be disorderly.”
Soros, the legendary investor who founded the Quantum Fund with Jim Rogers in the 1970s, went on to say that “While some contagion will be unavoidable – whatever happens to Greece is likely to spread to Portugal, and Ireland’s financial position, too, could become unsustainable – the rest of the eurozone needs to be ringfenced. That means strengthening the euro zone, probably by wider use of Eurobonds and a euro zone deposit insurance scheme.”
Aurizon Mines Appoints George Paspalas as CEO
AURIZON MINES (ARZ.TSX, AMEX: AZK) announced that George N. Paspalas has agreed to join the Company as President and CEO and as a member of the Company’s Board of Directors, effective August 15, 2011. David Hall will continue as President and CEO until August 15, 2011 and, following Mr. Paspalas’s appointment, will continue to serve the Company as Chairman of the Board. Full Aurizon Mines Press Release.
- Mr. Paspalas has spent 14 years in senior management positions, most recently as the COO of Silver Standard Resources (SSRI).
- He previously held senior management positions with Placer Dome Inc., including Executive Vice-President and Senior Vice President Projects – Technical Development and as President and CEO of Placer Dome Africa.
- During his career, Mr. Paspalas has been responsible for constructing and operating complex open pit and underground mines in South Africa, Tanzania, Australia, South America and Canada.
