Opinion (George Soros, financier): “The fundamental problems have not been resolved; indeed, the gap between creditor and debtor countries continues to widen. The crisis has entered what may be a less volatile but more lethal phase…Whether or not the euro endures, Europe is facing a long period of economic stagnation or worse… But the European Union is not a country, and it is unlikely to survive. The deflationary debt trap threatens to destroy a still-incomplete political union.
“The only way to escape the trap is to recognise that current policies are counterproductive and change course.”
My Comment: Soros is still hoping for some solution and he gives advice. The financiers are playing like the carried-away players for whom the game is important although its outcome has been already predetermined—their collective loss! The power of money is gradually being replaced with the power of global connection.