George Soros Quotes About Euro

• No hay duda de que una ruptura del euro sería muy perjudicial, muy costosa, tanto financiera como políticamente. Y la mayor pérdida la sufriría Alemania. Los alemanes tienen que tener en cuenta que, efectivamente, hasta ahora no han sufrido prácticamente ninguna pérdida. Todas las transferencias han sido en forma de préstamos, y sólo cuando no se devuelvan los préstamos se incurrirá en pérdidas reales.

  George Soros

  Breakup, Real, Loss

  Fuente: www.spiegel.de

• This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

  George Soros

  País, Responsabilidad, Gobierno

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.

  George Soros

  Country, Responsibility, Germany

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.

  George Soros

  Imagination, Narrative, Accepted

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.

  George Soros

  Country, Keys, Long

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.

  George Soros

  Country, Europe, Debtors

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

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