It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong
George SorosAny central bank should only be in charge of liquidity. Solvency is a matter for the treasury.
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 SorosThese public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
George Soros