‘Fiasco’ & ‘Fatal’: George Soros’ Advice to EU Leaders
- Posted on June 25, 2012 at 11:29am by
Becket Adams
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Billionaire philanthropist and currency speculator George Soros said on Monday that unless European leaders quickly devise a bold plan to stave off the euro crisis, the EU summit will be a total “fiasco.” So he offers his advice: create a fund to “purchase the bonds of Italy and Spain in return for budget cuts in the nations,” as Bussinessweek reports.
Investors don’t think EU leaders are willing to make the tough calls necessary to save the currency, Soros said in a Bloomberg TV interview.
“There is a disagreement on the fiscal side,” he said, referring to German Chancellor Angela Merkel’s refusal to side with the more-spending-will-solve-everything camp. “Unless that is resolved in the next three days, then I am afraid the summit could turn out to be a fiasco.”
But how, exactly, would this fund work? Business Insider’s Joe Wiesenthal explains the Soros plan:
A new “debt redemption fund” would be launched, which would have the ability to buy up sovereign debt funding itself via ECB backed Treasuries with the safest risk weighting. In exchange for countries being able to fund itself via that fund, they would have to agree to various structural reforms. Any failure to deliver on reforms would get a penalty, but not a fatal one. Eventually after all the reforms were made, a more complete fiscal union/Eurobonds scheme could be enacted.
And just in case people don’t take him seriously on the whole “fiasco” thing, Soros also warns that Germany’s refusal to allow the European Central Bank to buy up more sovereign debt could be “fatal.”
“It will leave the rest of the eurozone without a strong enough firewall to protect it against the possibility of a Greek exit,” Soros writes.
“Even if a fatal accident can be avoided, the division between creditor and debtor countries will be reinforced and the ‘periphery’ countries will have no chance to regain competitiveness because the playing field is tilted against them,” he adds.
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Comments (47)
cemerius
Posted on June 25, 2012 at 2:52pmuh oh!! Georgie’s “fall back” currency is going to dive before his mission to destroy the US economy succeeds?…….I hope he dies penniless and his “supermodel” girlfriends transfer an Al Capone sized VD to him!!
Report Post »bustedupvet
Posted on June 25, 2012 at 2:52pmThat egomaniac Soreass should be rotting in a pile of garbage. He isn’t anything in the world but a wealthy turd. I’ll dance when the turd is flushed by God!
Report Post »GETLIFE
Posted on June 25, 2012 at 2:24pmEU SUMMIT SUMMARY:
Spain and Italy: C’mon Germany, give us more money!
Report Post »Germany : No.
France : But “eurobonds” is such a clever word, everybody will buy!
Germany : No.
DGuy
Posted on June 25, 2012 at 11:25pmGood assessment and correct…
Report Post »commonsenseguy
Posted on June 25, 2012 at 2:00pmthe commie devil has spoken, i just wonder if he told obama the same thing, spending will save the country,but look what has happened, soros wants to tell everyone how to save their country,but isn’t he the one who told thenm that if they would spend every penny they have and give all their unions more pay less work it would make the euro stronger and he has also told them that trying to cut programs would make things worse, now look, he wants them to spend more money they don’t have and try and cut later,that is how every country on earth got in this mess, and to think he and obama want to start a “‘ new world order “‘ together,hell they can not even agree on how to fund it,
Report Post »boca_chica
Posted on June 25, 2012 at 1:52pmRemember when our banks loaned millions to central and south America on the “request” of our government? They had to write it all off as bad debt when these countries could not pay it back. Germany is smart not to do the same thing. They can’t “recover like we could back then( the 80′s).
Report Post »If the Nazi says something-do the opposite.
SilentReader
Posted on June 25, 2012 at 1:44pmWhy isn’t George Soros aka Gyorgy Schwartz behind bars? The man‘s brought down at least four nation’s economies, and he broke the bank of England, by his own admission, and he’s convicted of insider trading in France.
Not to mention causing all kinds of insurrections in the internal machinations of America and all the countries in the West that he doesn’t agree with and wants to take down, where he buys up the media and the politicians to do his vile Fabian Socialist globalist bidding.
Why do we give this man any credibility by listening to him? He IS the problem.
Report Post »Hollywood
Posted on June 25, 2012 at 1:53pmGeorge, the self hating Hungarian Jew,and nazi collaborator, is awaiting the demise of Greece, so he can move in and profit, buying up properties etc at fire sale prices. I wonder if he will take the Jews properties first. He has some expertise in the area!
Report Post »oldduffer
Posted on June 25, 2012 at 1:55pmYou answered your own question. Politicans. He buys and sells both parties and blackmails all. I would have no doubt that Jesse the mouth Jackson and Sharpton get in line with Obama to bow to him and now his son. He’s MoveOn.org and will have boycotts and protestors in front of some “rich” business or business mans’ home at the drop of his thumb. You trace his trust funds, organizations, ties to political parties in major countries and you’ll find that even Glen Beck and Breitbart missed a few. Too powerful to running amok but no one has guts enough or support enough to reign him in.
Report Post »Diane TX
Posted on June 25, 2012 at 12:56pmWhy it’s almost as if Soros is “recommending” that all of the European Continent become one big happy family – with each sovereign Nation becoming “equal”, Germany worth less, Greece worth more. It’s the United States of American in reverse. Instead of individual States joining together to become a Nation, it’s individual Nations devolving into individual States to be governed as one.
Report Post »lukerw
Posted on June 25, 2012 at 12:46pmThe Et Al… in Soros et al… has some Fear… so Soros is pretending to be an Economist, Not a Radical Revolutionary who ignores Unintended Consequences!
Report Post »docgreen
Posted on June 25, 2012 at 1:15pmThis is just Crazy! Why would anyone listen to him, the only problem, he seems to control Countries by manipulating things! I would look at how much he would gain by doing this. For some reason, this idiot collapses economies and then makes huge amounts of money! People I know allot of you are Christians and others don’t believe, but I refer to the bible that in 1hour everything comes to nothing. The Rich will weap and hollar for their riches come to nothing! So, how close do ya think we are to this? I know some will say people could write this, and they could put it in a book. And it could happen by chance. But their is No way people could write all of these things, happening without seeing into the future and knowing what was going to happen! War is about to start in the Middle East and we need to be prepaired for the collapse of the Dollar and other Currencies! Its coming and I’d put my life on the Bible being right, than I would a shady charecter like obama and or sorros! Evils among us and this is only going to get extremely worse for everyone! I hope your all watching the sky, because he’s coming! Its not going to be long now, before were caught up to meet Our Lord in the air! I’d really hate to have to go through the Tribulation. I didn‘t think I’d ever see this happen but its here, and way sooner than I thought.
Report Post »Busybea007
Posted on June 25, 2012 at 10:08pmJust a worthless POS that will pay dearly one day for the things he has done. Enjoy while he can.
Report Post »BlackCrow
Posted on June 25, 2012 at 12:34pmWill the Germans take his advice and give their money to the European Central Bank to be given to Greece, Spain, Italy and the rest of the Euro Zone with no hope of ever seeing their money back?
Your smoking dope if you think so! The Germans are the only ones with any money and they remember what happens when you try to print your way out of debt.
Report Post »donh2
Posted on June 25, 2012 at 12:28pmImportant to note how the Pope of Baal….The patron demon of Planned Parenthood begins with a Siamese twin analogy where one baby has to be killed to save another…..When Soros speaks he needs a sound track score ….Here is the second video to play . Open a second window an start this video at the same time as the Soros interview and play at equal volume….> http://youtu.be/QG8Tz1hLx38
Report Post »GETLIFE
Posted on June 25, 2012 at 2:08pmI was all engrossed in your suggested soundtrack when the Soros interview kicked in automatically on a hidden screen where I had set it to load (slow connection). Almost fell off my chair!
Report Post »Thanks for the scare– and the laugh.
donh2
Posted on June 25, 2012 at 2:38pmBe sure the opening advertising finishes on the Soros video before launching the sound track…It is truely frightening if you notice what footage is played exactly when Soros begins talking about the rise of Germany and German empire. This is exactly what Soros wants. Soros talks like he wants to save equality in Europe but the agenda has always been to resurrect Adoph Hitler from the dead. Again…note his ghoulish fascination with cutting apart siamese twins….just like Dr Mengele who loved medical experiments on twins.
Report Post »drattastic
Posted on June 25, 2012 at 12:25pmI only have one question .When is this evil greedy old ***** gonna drop dead ?
Report Post »donh2
Posted on June 25, 2012 at 1:09pmCarpathians can live anywhere from 200 years to 2,000 years depending on their diet of gilded dry roasted fetus and human blood….> http://en.wikipedia.org/wiki/Carpathians_(race)
Report Post »lylejk
Posted on June 25, 2012 at 12:17pmStong dollar and cheap gas; if it wasnt’ for job loss here, I would say let the Euro die. lol
Soros is a socialist conniver that is for sure, but the EU is going to die unless they print more Euros, that is a fact. Do I want them too print? NO. The EU, part of the one world order crud, was a mistake to begin with so I actually am happy for it’s demise other then the fact it will hurt us here in the U.S. Britain was one of the only smart countries since they chose not to participate. Countries without common ties should never have a common currency. We are a world of many cultures and history, and I actually will say that is a good thing. We should trade with each other, but not trie to be bonded to a common currency. That act was doomed to fail. Maybe they might figure out a way to stay together, but if I was a citizen over there, I would demand to have my own country’s currency back. :)
Report Post »1TrueOne55
Posted on June 26, 2012 at 3:39pmRemember that this man when he speaks it is so that his finances can be increased by doing the exact opposite. He shorted the British Pound in 1992 and made Billions on the near collapse of his “Home” country’s currency. He has been indicted in France on Finance
Report Post »NOBALONEY
Posted on June 25, 2012 at 12:08pmBloomberg ran that video clip of Soros four to five times every hour starting late last night into today. Germay‘s Chancellor Merkel rained on Soros’ and Bloomberg’s parade..
Report Post »slr4528
Posted on June 25, 2012 at 1:58pmGood for Merkel. I hope she tells Soros where to stick it.
Report Post »Individualism
Posted on June 25, 2012 at 11:58amhttp://www.youtube.com/watch?v=5OfX28V-UmI
here is another video of him speaking his truth about the elections in America right now.
Report Post »abbygirl1994
Posted on June 25, 2012 at 11:56amBeck has been warning everyone about George Soros.. if people are ignorant enough to believe this sly old codger, knowing what he has done to other countries and how he enriched himself while they went under.. Then they deserve what they get!!
Report Post »Mutiny
Posted on June 25, 2012 at 12:13pmBelieving him is exactly what to do. These people dont say things for fun. He is serious. Osama Bin Laden in 1998 came on CBS and declared war against us. He was basically ignored until 9/12/01. You have to listen to these people, sticking your head in the sand and ignoring facts is something the right has been doing for too long. Its time to wake up.
Report Post »ThePostman
Posted on June 25, 2012 at 11:56amGeorge is in a panic that his beloved “Socialist States of Europe” is dissolving economically. Guess he didn’t see it coming, lol.
Funny, that tiny little Ouzo-guzzling, lazy, good-for-nothing Greece was the straw that broke the camel’s back.
Euro dollars will flow to US treasuries. Then they will flee. The fed will be forced to keep interest rates at zero indefinitely as the treasury chocks up ever greater debt. We become “Japan”. Finally, one day, people will cease to believe in the fiat currency, and we become “Zimbabwe”. The Chinese and Saudis agree to begin trading using a world currency based upon oil and gold, and the US gets relegated to the dust bin of history. Just another failure like the Holy Roman Empire.
This will be easy money, folks.
Report Post »Merrymix
Posted on June 25, 2012 at 12:15pmTake a look at what is to happen: http://www.thewarningsecondcoming.com
Report Post »kilo62a
Posted on June 25, 2012 at 11:55amWhatever this socialist says, always bear in mind that he is NOT altruistic. He is simply out to make a greedy capitlistic buck (or many, many of them).
Report Post »RedDirtTexas
Posted on June 25, 2012 at 12:38pmYou can bet Georgy is sitting on a butt-load of euros, trying his damnedest to come up with a scheme to increase their value before he dumps them and the value spirals downward! It’s what he does!
Report Post »LeadNotFollow
Posted on June 25, 2012 at 11:55am…
Report Post »At his age, you would think George Soros would be down on his knees, asking God for forgiveness, and asking God how he can repair all the damage he’s done in his lifetime.
George, you’re 81. You are running out of time.
Maxim Crux
Posted on June 25, 2012 at 11:53amGlenn Beck is missing the part where Germany becomes an empire. This has always been the agenda…Germany controlling the world.
Report Post »theblazerunner
Posted on June 25, 2012 at 11:49ama known financial teror-ist, yet he visits the wh, does interviews…
btw,
Report Post »beck…barry is a fraud, he is a muslim.
quit the bs.
HKS
Posted on June 25, 2012 at 11:44amIt would be a safe bet that old George will get his either way.
Report Post »shogun459
Posted on June 25, 2012 at 11:41am“MWHAhahahaha!”
Didn’t GB predict this, That Soros was shepherding political changes in the balance of power?
Report Post »I’m sure Soros is being selfless in what he does, he wouldn’t try to make any money off of the suffering that is sweeping the EU.
barber2
Posted on June 25, 2012 at 11:39amWonder how much old George will make on the fiasco ?! The Wizard of Oz..so busy behind the curtain.
Report Post »barber2
Posted on June 25, 2012 at 11:37amEuropean socialist economic policies are a fiasco. Wish our American Lefties would WAKE UP.
Report Post »shogun459
Posted on June 25, 2012 at 11:46am“Our Lefties” as you say ARE awake that’s the problem. They NEED for the American economy to fail or they won’t be able to establish a socialist order, Read “Rules for Radicals”.
Or selected works by Marx or any of thier followers.
If you haven’t read them how can you compete in this battle of wits,
Report Post »with those of us that have?
Mutiny
Posted on June 25, 2012 at 12:09pm@barber
Yeah the left is awake. Its the people like you that are asleep. You are the ones voting in a guy that has basically the same economic policy as Bush and Obama.
This is what the “right” is supporting.
1. Romney’s budget doesnt cut current spending levels.
2. Romney supports bills that take away American citizen’s freedoms NDAA, Patriot act, ect.
3. Romney supports the FED and the devaluation of the American dollar.
4. Romney supports the UN and the continuation of the US global police force that is bankrupting us.
5. Romney has stated he is pro life now only for political reasons.
6. Romney has been pro global warming.
7. Romney supports gun control laws.
Its the right that needs to wake up. You people have been conditioned to support liberals. How does McCain and Graham keep getting elected? How can “tea party” favorites Rubio and West get away with saying one thing to get elected and doing another when in office. How can anyone realistically think the Paul Ryan budget will work. It takes 30 years to balance the budget. Do you really think we have 30 years on our current course?
Report Post »Jeepzea
Posted on June 25, 2012 at 11:36amand who would believe this communist?
Report Post »shogun459
Posted on June 25, 2012 at 11:47amThe 90% of the EU that’s Socialist and the 33% of America that is Socialist/Communist.
Report Post »