The European debt crisis is political more than financial, as argued by George Soros. But the solution to the political problem needs to confront domestic political elites throughout Europe, jealous of their power, with the dishonesty of their stance. Hold on tight - this process provides hope for
The euro crisis needs a collective solution, designed and implemented by both the core and the periphery. It has to be a political solution underpinned by good economic and financial reasoning. What George Soros is telling us is that the latter is by no means guaranteed.
To understand the dynamics and timing of the Eurozone crisis, you need to understand how the European Central Bank actually works. The truth is, it is not really a fully fledged central bank at all. National central banks, including Greece's, have been using their power to transform bad bank loans
