Soros: Tragedy of the EU

George Soros' "worst expectations" in regards to the EU have been "fulfilled," he says, and the bloc faces 25 years of Japanese-style stagnation. While Japan - being one nation - has survived, the EU may not.

Soros naturally blames the creditors (i.e., the Germans), and finds it alarming that the EU's banks - when they should be providing capital to boost growth - are instead hunkered down to try and pass the ECB stress test.

His comments come amid the launch of his latest book, "The Tragedy of the European Union."


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Comments (8)
  • Bret Jensen
    , contributor
    Comments (15220) | Send Message
    Soros is typical liberal....blaming the ants instead of the grasshoppers
    12 Mar 2014, 08:33 AM Reply Like
  • Tack
    , contributor
    Comments (16557) | Send Message


    Actually, I believe he has a valid point, and it applies equally here, as well. As is typical, following a dislocating event, such as 2008's financial meltdown, all kinds of political saviors and experts appear, who are going to prevent such from ever happening again. So, they legislate, regulate, tax, sue, complain, admonish and worry, thereby hamstringing needed economic expansion in the false belief that they've somehow made future systemic stress impossible.


    So, now, many complain about moribund growth and lethargic capital utilization without ever ascribing it to the cause.
    12 Mar 2014, 08:43 AM Reply Like
  • Morrie
    , contributor
    Comments (63) | Send Message
    Tack, please read the article in todays NYTimes wherein a macro comparison is made re the vast gap between returns to capital and labor. Inequality has always been with us but never so great as it is now. We have long trusted the markets to "always keep the ship righted" but market forces failed big time and recourse must take place unless you believe its ok for a few to profit exorbitantly at the expense of the public coffers and workers wages. I think we need to do all the remedies you mention to mitigate future crossings. Also think greed by all of us will keep market spirits and reasonable prosperity alive. (Business Day, Eduardo Porter, B1) We need to jail more criminal capitalists.
    12 Mar 2014, 01:12 PM Reply Like
  • Tack
    , contributor
    Comments (16557) | Send Message


    First off, the Government, especially here in the U.S. was complicit in the subprime realty collapse. Secondly, no one made anybody borrow money they either had no ability and/or intention to repay.


    There's plenty of blame to go around. I wasn't just those "evil" capitalists.
    12 Mar 2014, 01:16 PM Reply Like
  • ihor1234
    , contributor
    Comments (7) | Send Message
    The casinos were open. They deserve much of the blame.
    12 Mar 2014, 02:17 PM Reply Like
  • Darren McCammon
    , contributor
    Comments (4405) | Send Message


    It's the pharmacies fault for selling me those drugs. The used car salesman for selling me the clunker car. The bank for selling the mortgage. The bar for serving me drinks. Fast food restaurants fault I'm fat for serving unhealthy food.


    Luckily, politicians are here to help.
    12 Mar 2014, 04:34 PM Reply Like
  • 11146471
    , contributor
    Comments (1397) | Send Message
    If Soros is correct (which I believe he is), then why the Euro steadily gains against the Dollar??


    12 Mar 2014, 06:22 PM Reply Like
  • joemac0345
    , contributor
    Comment (1) | Send Message
    earning morney is more important than acedamically right
    13 Mar 2014, 08:57 AM Reply Like
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