Bonn, July 7: Billionaire US financier George Soros fears that the world stock markets' current bull run will be followed by a massive crash, he told the German weekly Focus. Soros said he feared ``panic by inexperienced stock market investors,'' the magazine reported.

``Lots of new investors have little experience of stock markets. If these inexperienced investors are all seized by panic and quit the market together, there will be a crash,'' he said.

Soros also said he feared conflict between France and Germany over the French government's demand that jobs be Europe's number one priority, could delay the start of the single European currency.

``A conflict is on its way and it could lead to a delay in the start of the euro,'' he said. Soros is renowned as having contributed to the withdrawal of the pound sterling from the European monetary system in 1992 by betting against the Bank of England.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.