George Soros told the U.S. Senate Foreign Relations Committee that the Group of 20 meeting in London next week is a "make-or-break event" for markets worldwide. "Unless it comes up with practical measures to support the countries at the periphery of the global financial system, markets are going to suffer another sinking spell just as they did on February 10, 2009, when the authorities failed to produce practical measures to recapitalize the United States banking system," Soros said.

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