In a letter, the famous financier urges Europe to change its destructive policies.
George Soros is not only a financier advised, it is also a thinker. In a note posted on his blog, he believes that Europe must come out of the rut in which it lies. His main argument is that the Bundesbank is in error. He accuses the institution to refuse further monetary expansion. In parallel, the German Central Bank began to restrict credit Rhine while the whole of Europe needs the Germans consume.
George Soros believes that prior approval of expenditures of each country is required. In parallel, he considers it important that the ECB buys bonds in Europe. This would be accompanied by a mechanism that states avoid getting into debt beyond 60% of GDP.
A tax package, rewarding the good behavior of pupils, would ensure that members maintain good discipline.
The financier also proposes that all Member States refinance their debt at the same rate of interest to ensure that differences in competitiveness are too strong.