Per Soros – take action now Europe, or
take the world into possible depression….
“Once the principle of setting up a European Treasury is agreed upon, the European Council could authorize the ECB to step into the breach, indemnifying the ECB in advance against risks to its solvency. That is the only way to forestall a possible financial meltdown and another Great Depression. —September 15, 2011”
Germany essentially needs to see the benefit in the Euro, and move away form its protectionist behaviors of late.
In America if the economically big states didn’t provide transfer payments to the small states, the small states would also go belly up or deal with substantially lower standards of living.
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