George Soros says three months to save the euro

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George Soros says three months to save the euro

BBC – He said he believed Greece would elect a government willing to abide by loan conditions imposed by the EU in this month’s elections. But he said the German economy would begin to weaken in the autumn, making it much harder for Chancellor Angela Merkel to provide further support. 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. Read article

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