Soros and Germany
George Soros has criticized Germany's Andrea Merkel for causing the 'Euro crisis.' “It was the German indecision that intensified the Greece crisis and led to the contagion that has transformed it into an existential crisis for Europe,” Soros wrote in a guest commentary for the business daily Handelsblatt on Friday.I am currently reading a book which claims that Soros is involved in what the book calls 'Germany's third attempt to rule the world.' Hmmm.
Soros, who has long criticised Europe’s handling of the crisis, called for the introduction of jointly backed eurobonds — a call that has been made by many economists but resisted by Germany.
He wrote that it had been a mistake to try to back up individual countries such as Greece via bailouts rather than strengthen the European Union as a whole. Germany now had to take the lead, he added.
“Otherwise the euro will collapse.”
The current system of rescue packages for individual counties such as Greece was unsustainable. It meant Italy and Spain had to pay higher interest for their state debt than they were receiving from Greece for the emergency credit they supplied.
Merkel’s policy of small steps was too slow, he said.
Labels: Angela Merkel, Euro crisis, George Soros, Germany
posted by Carl in Jerusalem @ 7:45 PM
1 Comments:
sounds like George has been on the losing side of his euro hedge strategy...but sure, European monetary policy should be based on the grousings of a currency speculator...after all Obama has already based his foreign policy on Soros' sure fire prescriptions
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