Soros speculates on European politics
Tuesday 04 February 1997
But, in fact, he's just another multi-billionaire who has decided quite late in life that money isn't everything, that a voice on the international stage is what it is all about.
This is George Soros and he's been in his element over the past few days at the World Economic Forum in Davos, Switzerland.
Davos is more a conference about ideas than action and as such is a perfect venue for Mr Soros and his proposed cures for the world's many problems.
His latest obsession is European Monetary Union. He hosted a packed press conference on it yesterday: the way his pearls of wisdom whizzed around the world's news wires in its aftermath anyone would think it was Helmut Kohl or Jacques Chirac who had just spoken.
So this is what he thinks. Yes, monetary union will happen, and it will happen on time because the political will is there. "The train has left the station and, unless it is derailed, it will arrive at its destination," he said.
As for Britain, it would be very dangerous to stay out on a long-term basis because it would jeopardise inward investment. To go into the euro immediately might also be dangerous because Britain's economy is structurally so different from its partners.
Mr Soros regarded the euro as a flawed construction which will need further steps to make it work. "You cannot have a common currency without a common fiscal policy and this issue will have to be addressed sooner or later," Mr Soros insisted.
Interestingly, he doesn't hold to the fashionable view that there would be a collapse in the Italian and Spanish bond markets if they were excluded in 1999.
Mr Soros has begun canvassing business and political leaders to support the idea of a "Congress of Europe" to address the issue of political reform within the European Union.
- 1 This restaurant has misunderstood the concept of 'cheese and biscuits'
- 2 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 The 'sex selfie stick' lets you FaceTime the inside of a vagina
Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
PornHub turns masturbation into energy in bid to save the planet
Spiritual leader allegedly manipulated 400 men into removing testicles to be 'closer to God'
The 'sex selfie stick' lets you FaceTime the inside of a vagina
'This is what Islam tells us to do': A rare glimpse inside a Saudi Arabian prison – where Isis terrorists are showered with perks and privileges
New theory could prove how life began and disprove God
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
This is what it's like to be dead, according to a guy who died for a bit
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
iJobs Money & Business
£20000 - £21000 per annum + uncapped commission: SThree: As a graduate you are...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...