Kyle Bass: Best Option for Europe is to Break Up

“With no workable solutions in sight and a sovereign debt crisis only likely to get worse, the European Union is likely to see an ultimate breakup, widely followedhedge fund  executive Kyle Bass told CNBC.

Bass, the managing partner at Hayman Capital Management famous for making huge sums from the collapse of the subprime mortgage industry, said last week’s EU summit produced “a blank piece of paper” on which “there are no details,” causing him to conclude, “It won’t work.”

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