Not only Bussiness Insider but a lot of people went all-in with a certain George Soros speech in which he decided to put the blame of current woes of the European Union in Angela Merkel, just because she decided and told the world in 2008 that each member of the Union was responsible of its own debts. The heresy!
Obviously, Mr. Soros is asking – no, demanding the Fiskalunion that the same Angela Merkel is pushing hard right now. You see, even for Mario Vargas Llosa it is an unspeakable thing to let Greece go out of the Eurozone. The right thing to do is print more funny paper in the way of bonds and euros and spread them across Europe and pretend like Keynes that in the long term we will be all dead.
George Soros, the same one that tried to sink the French franc once and still did not has not faced the legal consequences of it, conveniently forgets to mention that the average percentage of debt in Europe in GDP terms is of a 285%! In other words, no Fiskalunion will solve that problem. Talk all the way of integration if you like it Georgie, but the Germans are not going to make themselves responsible for the Greek debt, and even the populations of the PIIGS want nothing to with their current shenanigans. Otherwise, Switzerland wouldn’t be taking measures to stop the people from entering to deposit their Euros in there. Gee, Germany is getting paid to receive desperate investors’ money now!
Timeo danaos et dona ferentes. I won’t ever trust the good intentions of Mr. Soros’ words. Ever.
- In A Brilliant New Speech, George Soros Reveals The Exact Moment That Angela Merkel Started The Euro Crisis (businessinsider.com)
- George Soros: Blame Merkel (i.doubt.it)
- Spain wants euro zone fiscal authority (news.yahoo.com)
- Soros and Roubini: EU “Unlikely to Survive” (wealthwire.com)