Soros : Europe is similar to the Soviet Union

George Soros : “Europe is similar to the Soviet Union in the way that the euro crisis has the potential of destroying, undermining the European Union,”
“The euro is undermining the political cohesion of the European Union, and, if it continues like that, could even destroy the European Union,” said Soros in comments reported by the Wall Street Journal. “With the profound social, economic and moral crisis that Europe is in, we can see a similar process of disintegration.” “You can grow out of excessive debt , you cannot shrink out of excessive debt,” said Soros. - in cnbc

Soros: Next French President Unlikely To Stand Up To Merkel

The French president who will be elected after the runoff vote on May 6 is unlikely to stand up to German Chancellor Angela Merkel on European issues as the country's economic situation will remain weaker than Germany's, U.S. billionaire investor George Soros said Thursday in an interview with French weekly magazine L'Express. - in nasdaq.com

Soros : Reversing Europe Renationalization

NEW YORK – Far from abating, the euro crisis has taken a turn for the worse in recent months. The European Central Bank managed to relieve an incipient credit crunch through its long-term refinancing operation (LTRO), which lent over a trillion euros to eurozone banks at one percent. This brought considerable relief to financial markets, and the resulting rally obscured underlying deterioration; but that is unlikely to last much longer.
The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen. The crisis has entered what may be a less volatile but potentially more lethal phase.
At the onset of the crisis, the eurozone’s breakup was inconceivable: the assets and liabilities denominated in the common currency were so intermingled that a breakup would cause an uncontrollable meltdown. But, as the crisis has progressed, the eurozone financial system has been progressively reoriented along national lines.- in project-syndicate
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George Soros on The Future of Europe

April 13, 2012 : George Soros, Chair of Soros Fund Management at the panel entitled "The Future of Europe" at the Institute for New Economic Thinking's (INET) Paradigm Lost Conference in Berlin. Soros discusses his general theory of reflexivity and its application to financial markets, providing insights into the recent financial crisis. The third and fourth lectures examine the concept of open society, which has guided Soros's global philanthropy, as well as the potential for conflict between capitalism and open society. The closing lecture focuses on the way ahead, examining the increasingly important economic and political role that China will play in the future.

Soros : European Crisis Has Entered Potentially More Lethal Phase

George Soros :"The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen. The crisis has entered what may be a less volatile but potentially more lethal phase. At the onset of the crisis, the eurozone’s breakup was inconceivable: the assets and liabilities denominated in the common currency were so intermingled that a breakup would cause an uncontrollable meltdown. But, as the crisis has progressed, the eurozone financial system has been progressively reoriented along national lines." Soros wrote in an op-ed piece published on Project Syndicate - via project-syndicate

Soros : The Euro is broken and needs to be fixed

George Soros : “The fiscal compact is going to push Europe into a deflationary debt trap with potentially catastrophic consequences,” . “This can be prevented if only it’s recognized there’s fundamentally something wrong with the rules of the euro.” Soros said today at a book party in Berlin He explained that Europe’s fiscal compact to promote budgetary discipline can’t work in its current format, while the euro is “broken and needs to be fixed.” - via Bloomberg