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3 Mar, 2010 11:01

Is Wall Street waging “economic warfare” against the euro?

With Greece reportedly set to announce stringent measures to offset its crippling financial crisis, are US financial forces working behind scenes against the euro?

According to a recent report in The Wall Street Journal, the US Justice Department has launched an investigation into whether hedge funds – which include SAC Capital Advisors LP, Greenlight Capital Inc., Soros Fund Management LLC and Paulson and Co – banded together to drive down the value of euro.

The Wall Street Journal article reported a precipitous rise in large “short” positions being taken against the euro in recent weeks by the major hedge funds, who were said to have gathered behind closed doors to discuss their strategy.

”It is an attempt to create a new world monetary crisis. It is economic warfare to defend the dollar by attacking Greece and through Greece attacking the euro,” journalist Webster Tarpley told RT.

Investigators may consider whether such information sharing should be considered “collusion,” the Journal suggested.

In the meantime, crowds of people have taken to the streets in Athens to protest against job losses and salary cuts.

The European Union has expressed concerns about the situation in Greece as it might lead to major problems for the European monetary system.

Read also: Poor George Soros wants to destroy European currency again