The laissez-faire argument relies on the same tacit appeal to perfection as does communism.
George SorosThe 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 SorosI think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
George SorosBy 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