Before accident there were 90 days
The European Union has three months for search of an exit from financial crisis. After the lapse of this term the markets will simply cease to react to all efforts of Bruxelles though the euro, most likely, nevertheless will manage to be rescued. Such opinion was stated by the known financier and investor George Soros.
Acting at an economic forum in Italian Trento, Soros has given a number of councils about an overcoming the crisis. First of all, as he said, Europe needs to enter urgently insurance of bank contributions to stop outflow of deposits which has already concerned the peripheral countries. Besides, banks should get direct access to financial support of the European mechanism of stability which will earn in the summer of this year.
"The countries with the big debts need to reduce financial expenses. There are various ways to achieve it, but all of them need active support from party Bundesbanka (the Central Bank of Germany) and the German government", - Soros has told, having noticed that Germany still should be convinced of correctness of this policy.
Besides, Soros has expressed hope that Greeks during re-elections in parliament on June, 17th "will be frightened enough by prospect of an exception of the European union" to vote for those who is ready to observe the operating anti-recessionary agreement. At the same time "any government (Greece) cannot satisfy a condition, and the Greek crisis will come to the culmination this autumn", the financier has declared.
"By then the economy of Germany also will weaken, therefore Merkel will be even more difficult, than today, to convince Germans to incur any additional obligations concerning Europe", - he has warned.
The summit of EU planned for the end of June, will come to the end with acceptance of a package of measures which become the compromise for everything, Soros considers. However these measures will be to turn absolutely insufficiently back crisis tendencies. "It means that these measures again will give time simplification, but tendencies remain. We are in a critical point. After three months the markets will demand большего, but the authorities cannot execute their inquiries", - the investor has noted.
At the same time Soros has expressed opinion that the euro will manage to be rescued, as its crash became accident not only for "the peripheral" EU countries, but also for Germany. "Return to DM will cost, most likely, Germany deprivations of the export markets, not to mention political consequences. Thus, Germany, most likely, will make everything to rescue euro, but no more that", - was concluded by Soros.
The European Union has three months for search of an exit from financial crisis. After the lapse of this term the markets will simply cease to react to all efforts of Bruxelles though the euro, most likely, nevertheless will manage to be rescued. Such opinion was stated by the known financier and investor George Soros.Acting at an economic forum in Italian Trento, Soros has given a number of councils about an overcoming the crisis. First of all, as he said, Europe needs to enter urgently insurance of bank contributions to stop outflow of deposits which has already concerned the peripheral countries. Besides, banks should get direct access to financial support of the European mechanism of stability which will earn in the summer of this year.
"The countries with the big debts need to reduce financial expenses. There are various ways to achieve it, but all of them need active support from party Bundesbanka (the Central Bank of Germany) and the German government", - Soros has told, having noticed that Germany still should be convinced of correctness of this policy.
Besides, Soros has expressed hope that Greeks during re-elections in parliament on June, 17th "will be frightened enough by prospect of an exception of the European union" to vote for those who is ready to observe the operating anti-recessionary agreement. At the same time "any government (Greece) cannot satisfy a condition, and the Greek crisis will come to the culmination this autumn", the financier has declared.
"By then the economy of Germany also will weaken, therefore Merkel will be even more difficult, than today, to convince Germans to incur any additional obligations concerning Europe", - he has warned.
The summit of EU planned for the end of June, will come to the end with acceptance of a package of measures which become the compromise for everything, Soros considers. However these measures will be to turn absolutely insufficiently back crisis tendencies. "It means that these measures again will give time simplification, but tendencies remain. We are in a critical point. After three months the markets will demand большего, but the authorities cannot execute their inquiries", - the investor has noted.
At the same time Soros has expressed opinion that the euro will manage to be rescued, as its crash became accident not only for "the peripheral" EU countries, but also for Germany. "Return to DM will cost, most likely, Germany deprivations of the export markets, not to mention political consequences. Thus, Germany, most likely, will make everything to rescue euro, but no more that", - was concluded by Soros.
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