Soros Makes Predictions for World’s Top Economies
George Soros is heartened by current efforts to revive growth in the world’s major economies, the hapless eurozone being the one exception.
“All of the looming problems for the global economy are political in character,” he writes.
Soros is downbeat about the European Union, which “is heading toward the type of long-lasting stagnation from which Japan is desperate to escape.”
The euro’s design has a fatal flaw. Because the common central bank lacks a common treasury, government debts are denominated in a currency that no single member country controls, making them subject to the risk of default.
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