Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
"NEW YORK (MarketWatch) — The European Union has three months to address its financial crisis before the markets stop giving it time, but in the end the euro is likely to remain, said George Soros, chairman of Soros Fund Management LLC.

Europe is struggling with a fundamental flaw of its original design: that’s it’s a monetary and economic union but not a political or fiscal one, Soros said at the Festival of Economics in Trento, Italy, according to remarks posted Sunday on Soros’s website.

The solution will require European deposit insurance to stem the outflows of deposits already being seen from peripheral countries’ banks, he said. It will also require allowing banks to access direct financing from the European Stability Mechanism — the region’s permanent bailout mechanism which currently is designed to be tapped by sovereign governments. "

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.