Enter your email address:

Tuesday, February 21, 2012

George Soros - EU faces lost decade

George Soros - EU faces lost decade .EU crisis entering chronic phase .The crisis is changing from the acute phase to the chronic phase, where a very important role is played by the European Central Bank (ECB).The ECB in recent weeks has been creating money at a very rapid rate to make sure banks have enough funding. The second round of long term financing the ECB will make available to the banks in a few weeks will be much larger than the initial amount. This might be the ECB's indirect way to finance sovereign debt of countries with problems as Greece
Subscribe to: Posts (Atom)
GEORGE SOROS BLOG

Popular Posts


George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.