George Soros Quotes About Country

Quotes about: Country

• The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.

  George Soros

  Country, Lying, Rights

• I give away something up to $500 million a year throughout the world promoting Open Society. My foundations support people in the country who care about an open society. It's their work that I'm supporting. So it's not me doing it.

  George Soros

  Country, Years, Giving

  "Now on PBS" with David Brancaccio, www.pbs.org. September 12, 2003.

• There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.

  George Soros

  Country, Doubt, Reform

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• What works for Germany can't work for the rest of Europe: No country can run a chronic surplus without others running deficits.

  George Soros

  Running, Country, Europe

  "'You Need This Dirty Word, Euro Bonds'". Interview with Gregor Peter Schmitz and Thomas Schulz, www.spiegel.de. August 15, 2011.

• By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

  George Soros

  Country, Government, Creating

• The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

  George Soros

  Country, Marijuana, Substance

• Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.

  George Soros

  Country, Europe, Debtors

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.

  George Soros

  Country, Responsibility, Government

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.

  George Soros

  Country, Struggle, Europe

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore what has happened as a result of the introduction of the euro is largely Germany's its responsibility.

  George Soros

  Country, Responsibility, Germany

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.

  George Soros

  Country, Keys, Long

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

• Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

  George Soros

  Country, Swings, Balls

  "The Crisis of Global Capitalism: Open Society Endangered". Book by George Soros, 1998.

• I think it is natural that every country has to take care of its interests, but there are some interests that are common to all countries. There are some human interests, or we need also international cooperation. We've sometimes confused it with dictation.

  George Soros

  Country, Confused, Thinking

  Source: www.pbs.org

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