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George Soros

George Soros Quotes

Business magnate

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Famous George Soros Quotes

“Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.”

MayCountryProcessDifficultBallsResponseFinancialInternationalCongressConclusionSupposed To BeShockIngredientsSwingsKnockingEquilibriumFinancial MarketsPendulumsFluctuationFinancial SystemMeltdownsInterim
Author:George Soros
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“Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.”

CountryResultsPaySituationEuropeDebtPreservesHatedGermanyMinimumEuroDebtorsRefinance
Author:George Soros
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“This is the joint responsibility of everyone who was involved in the introduction of the euro without understanding the consequences. When the euro was introduced, the regulators allowed banks to buy unlimited amounts of government bonds without setting aside any equity capital. And the European Central Bank discounted all government bonds on equal terms. So commercial banks found it advantageous to accumulate the bonds of the weaker countries to earn a few extra basis points.”

CountryGovernmentFoundUnderstandingTermResponsibilityAmountInvolvedEqualConsequenceBasesSettingSettingsExtrasUnlimitedEquityJointsIntroductionEuroCentral BanksRegulatorsCommercial Banks
Author:George Soros
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“The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.”

CountryInterestStruggleEconomicEuropePerformancesRateBurdenWideGermanyDividedIrelandConsumptionSpainHousingBeltsInterest RateCreditorsDebtorsDivergenceReunification
Author:George Soros
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