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Soros: Germany has three months to save the euro - Rough cuts

Monday, June 04, 2012 - 05:18

Legendary hedge fund manager George Soros rocked economists and politicians by asserting at a conference in Italy that the European Union is “like a bubble” and that European leaders need to fix its crisis within three months, or the union and its currency will collapse. (June 4, 2012)

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In my judgment. The authorities. That have I think month window. During which -- was still correct their mistakes. And reverse. The current trends. Euro crisis. Threatens destroyed. The European Union itself. I contend. That the European Union itself. Is like a problem. In the boom phase. The EU. Was but the fact let them as -- -- pocket calls a fantastic object. Unreal. But immensely attractive. He was the embodiment of an open society. And the association of nations. Founded on the principles of democracy. Human rights. And the rule of law. -- own nation on action. Would have -- dominant position. The -- of Soviet victory. Must be active by a small group of fonts -- these states. Who practice what Koppel local peace -- social engineering. The event organized. That perfectionism. Attainable. So they -- limited objectives. And from time to time. And then mobilized to put it to who will put us wolves that full. Knowing full well. That's been they've achieved it it in that that Vista would become apparent. And require a purpose that. The process. Has done its own success. That it might not have financial bubble. That's how to Poland's view community. Was credited transformed. Into the European Union. That buys that. Germany. Used to be in the in the forefront of the F. -- -- -- -- -- -- -- -- -- -- -- -- German leaders realize. That of the unification must possible only in the context of a more united Europe. And their vote really to make considerable sent prices. To achieve. And it came to bargaining. They were -- to contribute a little more and they can have less than the other day about passivity the agreement. At that time. To have his statement. Use this that Germany has no independent foreign policy. Only a European. The process can't really give it -- BBC. And the introduction of the Euro. It was followed by a period of digestion. -- off the passion of 2008. Indeed to process all this mean to me. The first step. Was taken by Germany. When -- after the bankruptcy of Lehman Brothers. On a -- could be that. That the veteran candidate be extended to other financial institutions. Should come from each country acting separately. Not by Euro acting jointly. It -- financial markets. More than a year to -- -- and realized the implications. Of that that nation. Showing that they not perfect. Animosity BP was fundamentally flawed. Devastating default -- -- really feel the authorities. -- main weakness. Was man known to its architects. Is established a monetary union without the political unity and the occupant would leave power. That then the need to erodes. The political will. Could be generated. To take the necessary steps forward to a diplomatic immunity -- him. But the Miller wrote. Almost I have some other defects. Of we've got that vote on that Wear. And become awfully on this -- even today. In retrospect. It's now -- That the main source of problem. Is that the members states of the Euro. Have surrendered. To the European Central Bank. That writes. To me Fiat money. We need to do whatever we can't. Do convince Germany. To -- that issue. And he's the European Union as the fantastic object. That he used to be. The future -- -- a bureau defense on. That. What's gonna happen in the economy. I think more of the same I think we're looking at slow growth not a collapse. Maybe a decline in unemployment rate this continuing. Recovery that isn't premiere coverage. The election is about the economy and but.

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Soros: Germany has three months to save the euro - Rough cuts

Monday, June 04, 2012 - 05:18