George Soros: If you mean that the euro is here to stay, you are right. That was confirmed by the German elections, where the subject was hardly discussed, and by the coalition negotiations, where it was relegated to Subcommittee 2A. Chancellor Angela Merkel is satisfied with the way she handled the crisis and so is the German public. They reelected her with an increased majority. She has always done the absolute minimum necessary to preserve the euro. This has earned her the allegiance of both the pro- Europeans and those who count on her to protect German national interests. That is no mean feat.
So the euro is here to stay, and the arrangements that evolved in response to the crisis have become established as the new order governing the eurozone. This confirms my worst fears. It’s the nightmare I’ve been talking about. I’m hopeful that the Russian invasion of Crimea may serve as a wake-up call. Germany is the only country in a position to change the prevailing order. No debtor country can challenge it; any that might try would be immediately punished by the financial markets and the European authorities.TheNew York Review of Books
The Future of Europe: An Interview with George Soros
George Soros and Gregor Peter Schmitz
George Soros and Gregor Peter Schmitz
1 comment:
Some of Soros' stuff seems interesting and plausible, and yet I don't believe he's being totally candid here. I think he's invested (financially and ideologically) in the "spontaneous uprisings in the Ukraine." I had to stop reading because the pretense of objectivity of his views became less and less credible.
Post a Comment