Posted on 04/15/2012 11:58:31 AM PDT by nickcarraway
A new approach to saving the euro is needed and Germany should finance it, George Soros, the star investor and hedge fund manager told the Welt am Sonntag newspaper.
The US investor, known for nearly bringing the Bank of England to its knees in a wave of currency speculation in 1992, laid out an elaborate plan for saving the common currency, in an interview with the Welt am Sonntag newspaper.
He was also quick to blame the German government and its federal bank, the Bundesbank, for the euro's current woes.
“German policy and above all the Bundesbank stuck with their rigid dogma and it is making it dangerous for the euro,” he said.
But the bottom line of his thinking is that Germany, as the continent’s strongest economy and big winner from the common currency, needs to finance the way out of the current monetary mess.
“The Germans have to decide if they want the euro or not,” Soros said. “If they do, then they have to make the transfers. If not, they should leave [the currency zone].”
But a German exit from the euro would provoke serious damage to German exports, Soros notes. “The new German currency would appreciate sharply,” he warned.
Soros, a US investor with Hungarian roots, said, “there is no (currency) union without transfers – either political or monetary.”
Germany: Soros should bail out Euro. We’re tired of carrying water for the retarded cousins in Greece, Spain and Portugal.
Soooo, does Soro’s reveal his buy/hedge position before any recommendation too? I do hope SEC is not asleep on the deck.
Ping.
F%$k you......
Fu** soros he should bail them out beings he screwed them.
If Soros says it, you can bet it’s a trap. Germany might want to be very careful.
Germany is the Euro.
Ask Soros why he never goes to Asia : )
Soros wants to loot the EUropeon economies when they go down.
Germany’s elites have been bailing out the euro since 2008. They ain’t gonna stop now, no matter what the prevailing attitude of the people they represent is. The euro is their baby.
Familyop: Germany should not bail out the Euro. Let the southern tourist traps settle down to what they can support.
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