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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
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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
Trader
Writer
Buda Pest
György Schwartz
György Soros
Countries
Restructuring
Keys
Competitiveness
Chance
Weaker
Problem
Euro
Country
Reduced
Long
Zone
Burden
Debt
Regaining
More quotes by George Soros
Discount the obvious, bet on the unexpected
George Soros
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
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Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
George Soros
Every bubble has two components: something - some real trend, and a misconception about that trend.
George Soros
The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
George Soros
The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future they help to shape it.
George Soros
In politics, manipulating reality can take presidence over finding reality.
George Soros
Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.
George Soros
Once a trend is established it tends to persist and to run it’s full course.
George Soros
The bureaucratic method of building an integrated Europe has exhausted its potential.
George Soros
As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.
George Soros
I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
George Soros
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
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However, even a strong government can't perform miracles. It needs money from the taxpayers.
George Soros
Market prices are always wrong in the sense that they present a biased view of the future.
George Soros
We [at Soros Fund Management] use options and more exotic derivatives sparingly. We try to catch new trends early and in later stages we try to catch trend reversals. Therefore, we tend to stabilize rather than destabilize the market. We are not doing this as a public service. It is our style of making money.
George Soros
Bush's war in Iraq has done untold damage to the United States. It has impaired our military power and undermined the morale of our armed forces. Our troops were trained to project overwhelming power. They were not trained for occupation duties.
George Soros
I admire Chancellor Merkel for her leadership qualities, but she is leading Europe in the wrong direction.
George Soros
The scope for improvement is infinite, precisely because perfection is unattainable.
George Soros
The ultimate asset bubble is gold.
George Soros