Soros Says Germany Has Three Months to Resolve Euro Crisis -Reuters
Billionaire George Soros, speaking at an economic conference in Trento, Italy Saturday, said Germany has a three-month window to lead Europe out of the debt crisis. Soros said it is unlikely that Greece will be able to adhere to its bailout agreements. That, along with a weakened German economy, require that action be taken soon to "preserve the European Union as the fantastic object that it used to be".
Soros recommended the creation of a European deposit insurance scheme, along with lowering borrowing costs of heavily indebted countries. He said "there are various ways to provide it, but they all need the active support of the Bundesbank and the German government".
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