Essays
The Crisis of a Lifetime
George Soros and Gregor Peter Schmitz
GREGOR PETER SCHMITZ: You have seen many crises. Is the COVID-19 pandemic comparable to any previous one?
GEORGE SOROS: No. This is the crisis of my lifetime. Even before the pandemic hit, I realized that we were in a revolutionary moment where what would be impossible or even inconceivable in normal times had become not only possible but probably absolutely necessary.
The Case For Perpetual Bonds
Within a matter of weeks authorities will have to take decisions that will determine the fate of the European Union. The EU can either pull together and fulfill the expectations and aspirations of its citizens or it will continue to disintegrate.
Spain Is Leading the Way on Perpetual Bonds
When the European Council’s virtual summit convenes on April 23 to address how the European Union should cope with the economic fallout of the COVID-19 pandemic, it should consider the Spanish government’s submission carefully. Indeed, it should be the first item on the meeting’s agenda.
The EU Should Issue Perpetual Bonds
European Commission President Ursula von der Leyen has announced that Europe will need about €1 trillion ($1.1 trillion) to fight the COVID-19 pandemic. This money could be used to establish a European Recovery Fund. But where will the money come from?
Pandemic Requires Comprehensive Debt Standstills
By: George Soros and Chris Canavan
The Covid-19 pandemic is a one-two financial punch for developing economies. Not only has it put extraordinary pressure on the budgets of governments, which need to ramp up public health spending and prop up their reeling economies, but it has also caused a sharp exodus of capital from emerging markets.
Guarantee Paychecks for All Workers Displaced by Coronavirus to Save the Economy
By: George Soros and Eric Beinhocker
The catastrophic collapse in U.S. employment due to the coronavirus crisis demands far more from the federal government than it has done so far.
Nearly 17 million Americans filed for unemployment in just the three weeks ending April 4.
Europe Must Stand with Turkey over Putin’s War Crimes in Syria
Since the beginning of its intervention in Syria in September 2015, Russia has not only sought to keep in place its most faithful Arab ally, Syrian president Bashar al-Assad. It has also wanted to regain the regional and global influence that it lost since the fall of the Soviet Union.
Europe Must Recognize China for What It Is
Neither the European public nor European political and business leaders fully understand the threat presented by Xi Jinping’s China. Although Xi is a dictator who is using cutting-edge technology in an effort to impose total control on Chinese society, Europeans regard China primarily as an important business partner.
Mark Zuckerberg Should Not Be in Control of Facebook
At a dinner last week in Davos, Switzerland, I was asked if I thought Facebook was behaving more responsibly today than it did during the 2016 presidential election.
“Not at all,” I answered. “Facebook helped Trump to get elected and I am afraid that it will do the same in 2020.”
Remarks delivered at the World Economic Forum
We live at a transformational moment in history. The survival of open societies is endangered and we face an even greater crisis: climate change. It is threatening the survival of our civilization. These twin challenges have inspired me to announce the most important project of my life here tonight.