Amity Shlaes gets it right: "... George Soros has been making what he calls a “grave accusation” against Germany. The financier- philanthropist said last week that Germany is endangering the European Union by keeping wages down and pursuing a balanced national budget too aggressively. Germany’s parsimonious attitude, Soros suggests, may bring down the euro.
... It is time to turn the question around, and make a grave accusation against Soros. It is Soros who is endangering the euro by advocating these spending and loosening policies. They are policies that may give Europe budget problems that render its currency vulnerable to attack by Soros-like traders. Perhaps, like Merkel, Soros is doing his endangering for understandable reasons. Nonetheless, the danger is there, and worth laying out..."
Read more
Comment: It's good to read, at least once in while, some reasonable commentary in the American financial press. Insider trader Soros is a hypocrite. While playing a self-styled savior of the common European currency, he is actually keen on knocking the euro out for good. In contrast to the British pound, the euro doesn't serve as a toy for the currency speculators who have burnt their fingers recently by their ill-fated attempt to explode the eurozone and go after its parts.
No comments:
Post a Comment