Remarks at the Institute for New Economic Thinking Annual Plenary Conference in Berlin, Germany | George Soros
This is the ‘other’ recent lecture by George Soros on April 12, 2012 at the Institute for New Economic Thinking in Berlin, Germany. It was the ‘template’ for his most recent ‘already famous’ lecture in Trento, Italy 2 days ago (which has now been ‘abruptly pulled’ from his GeorgeSoros.com website!)....Of the two, his recent Trento lecture “caught more attention because of its timeliness. What is NEW is Soros’s ‘prediction’ of a 3-month ‘time window’ during which history can be made!”….My guess: That’s why it was abruptly pulled off his website…..The first 1500 words of both lectures deal mainly with ‘reflexivity’ theory….hmmm…….This April lecture is revealing and by adding his ‘3-month window’ to Saturday’s lecture was probably ‘too hot’ for somebody’s comfort and that’s why it was abruptly pulled from his site………Too hot or not, it’s almost Show Time…… TL
Remarks at the Institute for New Economic Thinking Annual Plenary Conference in Berlin, Germany
April 12, 2012
excerpts: “Whether or not the euro endures, Europe is facing a long period of economic stagnation or worse. Other countries have gone through similar experiences. But the European Union is not a country, and it is unlikely to survive. The deflationary debt trap is threatening to destroy a still-incomplete political union.
The European Union had been a “fantastic object”, a desirable goal, when it was only an idea, but it turned into an objectionable imposition when it became a reality. The only way to reverse this seemingly inexorable fate is to recreate the European Union as a fantastic object worth striving for. The European Union has the makings of an open society that could be a model for the rest of the world. All it needs to do is to recommit itself to the principles of open society and that requires the authorities to recognize their mistakes and correct them.
I can point the way towards a solution. First, the rules governing the eurozone have failed and need to be radically revised. Defending a status quo that is unworkable only makes matters worse. Second, current conditions are far removed from the Maastricht criteria and exceptional measures are needed to restore normalcy. Finally, the new rules must allow for financial markets’ inherent instability.”
http://www.businessinsider.com/full-text-of-george-soros-speech-2012-6
FULL TEXT: Here's The ‘Already Famous’ George Soros Speech That's Been ‘Taken Down’ From His Website
June 2, 2012