George Soros says three months to save the euro

George Soros says three months to save the euro

He said leaders did not understand "the nature of the crisis".

He said that while European leaders were focusing on debt levels, the crisis was "more of a banking problem and a problem of competitiveness".

For this reason, he said, they had "applied the wrong remedy".

"You cannot reduce the debt burden by shrinking the economy, only by growing your way out of it," he added.

(visit the link for the full news article)

So Soros is anti-austerity - he favours spending your way out of recession and difficulty - but not government spending - note his mentioning "banking and competitiveness" in the quote above.

I'm sure this is just short hand for increasing he power of the banks and more unbridled capitalism exploiting the 99% for his own benefit!


(visit the link for the full news article)

reply to post by Aloysius the Gaul



LOL so basically print more money and we will grow out of this recession just like in 2008, he doesn't mention what will cause this growth perhaps a new WAR...

reply to post by -W1LL


I'm not sure from the article exactly what his "solution" would be. Printing more money would just devalue - if everyone does it then everyone devalues and there is actually no great effect.

Growing the economy can also include removing restraints on businesses - making it easier to hire/fire, build factories, import raw materials, etc - which means less regulation.

reply to post by Aloysius the Gaul


youre right about that he leaves his statements wide open to interpretation, basically he needs even less oversight and things will get better because those in control of our money know whats best for YOUR money?



I really wish the people who work for this cash would realize who is in control and for how long because the last 100yrs have been leading up to this and every day it feels more and more like there are no sides no politics just have and have-nots, amd that margin is looking more like the 1% have while the 99% who actually WORK have nothing but bills and debt to leave their children.


what i find even more scary is how he predicts the END unless more support is given, but this support is not in sight and i feel greece wants to be left out of what the EU has become he says three months I think the entire EU has this month to turn things around and not with the solution of more competition as he says.