In early June, the financial predators, the founder of the Quantum Fund, George Soros has warned that Germany only three months to save the euro area, but this week he sent out the latest "ultimatum": today and tomorrow at the EU summit is the real deadline.
 
When everyone is looking forward to the EU leaders last few years for this crisis to find a solution, German Chancellor Angela Merkel said: "As long as I live," Europe does not share the debt.
 
Soros said in an interview with the online edition of the German "Der Spiegel" published on June 26, the German response to the emergency measures taken by the European debt crisis "is a tragedy, a historic mistake". He suggested the establishment of a European Financial Authority and debt fund in Europe, and European Treasuries by issuing short-term financing.
 
Soros spokesman Michael Vachon  in the mail of June 27 addressed to the "First Financial Daily reporter said," Soros believe that this is far the most powerful counter attack the German position. "
Euro will break up the German loss.
 
Once the European integration leader in Germany, people have already started to discuss the possibility of leaving the euro zone. A recent German poll results show that half of German Germany in the euro area more harm than good.
 
"There is no doubt that the euro-zone split will cause major economic and political damage and costly, while the biggest loser would be Germany, the German must keep in mind, in fact, they have not yet bear any loss. Current financial transfer the form of loans, the real loss will occur only when the loan is not repaid. "Soros said.
 
However, the majority of Germans no longer believe that those loans to Greece and other countries can also be recovered, they do not want to see Germany become a teller machines in Europe.
 
For Germany the possibility of leaving the euro zone, George Soros that "Germany could leave, but will have to pay the incredibly high price. Therefore, Germany will always defend the euro, just doing as little as possible. But it also makes the euro area debtor countries to pay the huge cost of financing continues, the result is Germany in Europe is seen as oppressive forces of imperial power, was the hatred and resistance of other countries, instead of being admired and emulated .
 
But why is this the fault of Germany? Soros believes that those countries with huge debt is indeed the lack of structural reforms needed to, but Germany forced them to take punitive measures would give the further deepening of these defects, thus further expanding Germany the competitiveness gap between these countries.
 
"Germany seems to have forgotten that the euro itself is largely the product of a Germany and France. No country to benefit from Euro more than in Germany, whether political or economic consequences of the introduction of the euro is largely Germany's responsibility. "Soros said.
 
German assistance to other countries after the Second World War on Europe's economic recovery plan "Marshall Plan" par, "As the German grateful to the U.S. Marshall Plan, Italy to Germany to help reduce the cost of financing grateful heart. If Germany to do so, Germany could set conditions, and Italy will be happy to meet. "
 
Soros warned that if the are not aware of this opportunity, Germany committed a "tragedy, a historic mistake".
 
Proposed issue of the Euro Treasury Bills
 
"Now we are only three days." Soros said in the interview 26, EU leaders must take bold measures to the EU summit in June 28 to 29.
 
Soros's view, a key issue is the debt restructuring in the euro area: "As long as the debt burden of the weak countries in the euro zone is not reduced, these countries there is no chance to regain competitiveness."
 
He suggested that, outside of the European Central Bank to establish a European Financial Authority ,to do can not do by the European Central Bank due to the EU treaty power is limited. But also the establishment of a Debt Settlement Fund referred to as DRF in the implementation of structural reform measures, while the Spanish and Italian, the Fund can be obtained and holds most of the outstanding national debt of these countries.
 
Debt Settlement funds by issuing short-term European Treasury (different from the euro-denominated debt) to finance, as a member of the joint debt, so that these countries enjoy the benefits of low interest rate financing. As a result, Italy and Spain can greatly relax.
 
But Germany has always been opposed to any such debt sharing instruments, for fear of those weak countries can not implement tough reform measures.
 
In this regard, he argues, "On the contrary, the reform will be more easy to implement, because of the incentives. Italy, for example, if you take into account the government financing the return to the low interest rate of 1%, Monty will certainly be strongly implement more severe labor market reform. "
 
When asked as an investor will a lot of shorting the euro, Soros eloquently said: "As an investor, I was on Europe very pessimistic, but as a believer in an open society, I believe that the European people and leaders."



Other News:
Soros: EU summit to save the euro area the last chance
Analysis of China's steel and coke spot market conditions
Get rid of the ＂steel is less than your cabbage＂ curse key to is control product
Expansion of the downturn in demand for steel spot prices decline
Steel market fundamentals vacancies steel price trend in July and easy fall hard
Zoomlion: The acquisition of Case reports are purely false news
Long a period of time steel prices will be repeated shocks bottoming
The protection of the global steel market saturation trade war ready