Soros bevestigt punt 1 van het manifest:
1. The causes.
Many policy makers insist that the crisis was caused by irresponsible public borrowing. With very few exceptions - other than Greece - this is false. Instead, the conditions for crisis were created by excessive private sector borrowing and lending, including by over-leveraged banks. The collapse of this bubble led to massive falls in output and thus in tax revenue. So the large government deficits we see today are a consequence of the crisis, not its cause.
Citaat:
Geen eurocrisis, maar een bankencrisis
Ten eerste gaat Soros in op het feit dat de autoriteiten en politici eigenlijk helemaal niet begrijpen wat de eurocrisis inoudt. Veel mensen denken dat het een fiscaal probleem is, terwijl het gevaar in eerste instantie een bankencrisis en een crisis van concurrentievermogen is: 'The euro crisis is particularly instructive in this regard. It demonstrates the role of misconceptions and a lack of understanding in shaping the course of history. The authorities didn’t understand the nature of the euro crisis; they thought it is a fiscal problem while it is more of a banking problem and a problem of competitiveness. And they applied the wrong remedy: you cannot reduce the debt burden by shrinking the economy, only by growing your way out of it. The crisis is still growing because of a failure to understand the dynamics of social change; policy measures that could have worked at one point in time were no longer sufficient by the time they were applied.'
|
http://biflatie.nl/artikelen/69-euro...raakt-eurozone