The financier: "The
intransigence of the
Germans put at risk the Union.
Now serving EU coverage of bank deposits''.
"Everything depends on the creditors,
by Angela Merkel of Germany and the Bundesbank. Their
intransigence is putting
at risk the very survival of a fantastic object. Quell 'European
Union is founded on the principles of open
society, democratic, pluralist and respectful of human rights whose nodes are now coming home to roost, because monetary integration was not followed by a real political integration. "Words and thoughts of George Soros,
speculative financial guru,
philanthropist, famous for having profited on the weaknesses of the
lira and the pound in
1992 with one of the world's best known hedge fund,
the Quantum.
Hungarian-born billionaire has been lavished in
a keynote
address international
economics by
donating tips, suggestions, invectives against the European ruling class, not always enlightened, especially unable to deal with the crisis that the Eurozone and to arouse the recent condemnation of the President Barack Obama on Friday during the election campaign in Minnesota has attempted to give the European Union supported the slowdown in world growth by worrying U.S. unemployment rising again. "That object
fantastic (the European Union, ed.) - Soros said - it worked at first because the Germans were struggling with the union and had the highest achievement in the Treaty of Maastricht. But the toy is broken when it was realized that the Germans were not willing to share the excessive indebtedness of other European countries. That's because the recipe is one and can only adopt it also Merkel: a
Community to cover
the deposits
of banks to prevent capital flight from the Euro area. "
If the recipe is not in itself innovative, but Soros did see glimmers of light on a crisis of the single currency is likely to have been assaulted world growth, with emerging countries unable to act as a locomotive: "We have three months to reverse course, the
problem is
a banking and competition, not fiscal, and sooner or later they will understand that even in Germany. "The implosion of the Euro - so the default of Greece would be the first skirmish strong - even in Berlin would not be beneficial because it would require the return of the mark and would penalize the German exports. Against the backdrop of austerity policies taken by the most indebted countries that are stifling growth for taxation now well above the danger levels: "We can not continue indefinitely", said Soros. Especially because the consequence is that the euro-skeptic movements take place in most elections causing "the implosion of a fantastic object."
BOOKS
Financial Turmoil in Europe and the United States: Essays (PublicAffairs) - George Soros - EUR 13,33
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