George Soros
George Soros is Chairman of Soros Fund Management and of the Open Society Institute. His most recent book is The Crash of 2008.
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2010-02-23
| Otmar Issing, one of the fathers of the euro, correctly stated the principle on which the common currency was founded: it was meant to be a monetary union, not a political one. But that principle is patently flawed, because, as the Greek crisis has demonstrated, a fully-fledged currency requires both a central bank and a treasury. ... read |
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2009-12-31
| Continued discrimination against Roma in Europe not only violates human dignity, but is a major social problem crippling the development of Eastern European countries with large Roma populations. Spain, which has been more successful in dealing with its Roma problem than other countries, can take the lead this month as it assumes the EU presidency.... read |
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2009-12-10
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In September 2009, the IMF distributed to its members $283 billion worth of Special Drawing Rights, with more than $150 billion going to the 15 largest developed countries. These countries should band together and lend $100 billion of their SDR allocations, which currently sit idle in their reserve accounts, to help developing countries fight the impact of climate change.... read |
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2009-12-09
| Barely a year after the bankruptcy of Lehman Brothers, financial markets have stabilized, stock markets have rebounded, and the economy is showing signs of recovery. But the growing belief that the global financial system has escaped collapse, and that we are slowly returning to business as usual, is a grave misinterpretation of the current situation. ... read |
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2009-11-04
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The world is facing a choice between two fundamentally different forms of organization: internationalist liberal capitalism and authoritarian state capitalism. The former, represented by the United States, has broken down, and the latter, represented by China, is on the rise.... read |
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2009-11-02
| Hated, alienated, and shunned, the Roma have for too long been easy and defenseless targets for Europe's disgruntled racists, with violent attacks escalating in recent months. Only through much stronger efforts can European countries break the nexus of poverty and educational deprivation that traps too many Roma – and leaves them vulnerable to unspeakable abuse.... read |
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2009-06-16
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Because the financial collapse that began last year originated from within, it destroyed the prevailing view that financial markets are self-correcting. But, having gone too far in deregulating markets, we must resist a natural tendency to overcompensate. ... read |
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2009-03-20
| The upcoming G-20 meeting is a make-or-break event. Unless it introduces practical measures to support the countries at the periphery of the global financial system, global markets will suffer another round of decline.... read |
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2009-02-20
| The euro suffers from structural deficiencies: it has a central bank, but it does not have a central treasury, and the supervision of the banking system is left to national authorities. These defects are increasingly making their influence felt, aggravating the financial crisis.... read |
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Renewing the International Financial System
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George Soros
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NEW YORK – The international financial system has been dominated by the United States and the so-called “Washington consensus” for decades. Far from providing a level playing field, it has favored the countries that are in control of the international financial institutions (IFIs), notably the US, to the detriment of the countries at the periphery of the world economy. ... read
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2008-12-01
| NEW YORK – We are in the midst of the worst financial crisis since the 1930’s. The salient feature of the crisis is that it was not caused by some external shock like OPEC raising the price of oil. It was generated by the financial system itself.... read |
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2009-11-04
| The world is facing a choice between two fundamentally different forms of organization: internationalist liberal capitalism and authoritarian state capitalism. The former, represented by the United States, has broken down, and the latter, represented by China, is on the rise.... read |
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2006-11-17
| Europe is in search of its identity. I believe it is easy to find: the European Union embodies the principle of open society, which could serve as a force for a global open society. ... read |
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2006-01-28
| While the unremitting violence in Iraq grabs the world’s headlines, Afghanistan still struggles for peace. The country’s parliament is packed with warlords, the drug trade is thriving, and violence is on the rise.... read |
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2007-11-08
| The American public has proven remarkably susceptible to the manipulation of truth in recent years. The lesson is that without an explicit commitment to the pursuit of truth, the division of powers, free speech, and free elections cannot ensure that political discourse leads to a better understanding of reality.... read |
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2005-03-15
| Countries that are rich in natural resources are often poor, because exploiting those resources has taken precedence over good government. Competing oil and mining companies, backed by their governments, are often willing to deal with anyone who can assure them of a concession. This has bred corrupt and repressive governments and armed conflict. In Africa, resource-rich countries like Congo, Angola, and Sudan have been devastated by civil wars. In the Middle East, democratic development has been lagging.... read |
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2005-01-25
| President George W. Bush’s second inaugural address set forth an ambitious vision of the role of the United States in advancing the cause of freedom worldwide, fueling worldwide speculation over the course of American foreign policy during the next four years. The ideas expressed in Bush’s speech thus deserve serious consideration. ... read |
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2008-01-22
| Today’s financial crisis, triggered by the collapse of the housing bubble in the US, also marks the end of a 60-year era of credit expansion based on the dollar as the international reserve currency. But the current crisis is less likely to cause a global recession than a radical realignment of the global economy, with the US declining relative to China and other developing countries.... read |
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2006-08-30
| Israel’s failure to subdue Hezbollah demonstrates the many weaknesses of the war-on-terror concept. One weakness is that even if the targets are terrorists, the victims are often innocent civilians, and their suffering reinforces the terrorist cause.... read |
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2006-08-15
| For almost five years, the “war on terror†has proved to be a false metaphor that has led to counterproductive and self-defeating policies. A misleading figure of speech has been applied literally to unleash a real war on several fronts, including Iraq, Gaza, Lebanon, Afghanistan, and Somalia. Thousands of innocent civilians have been killed, enraging millions around the world.... read |