Essays

Remarks delivered at the Global Economic Symposium

  • Kiel, Germany
  • October 1, 2013
I shall take a holistic approach to the future of Europe. I have developed a conceptual framework, which has guided me in my decisions throughout my adult life. The framework is much broader than the financial markets; it deals with the relationship between thinking and reality.

The Resistible Fall of Europe

  • Project Syndicate
  • May 14, 2013

SOROS: I have been very concerned about Europe. The euro is in the process of destroying the European Union.  To some extent, this has already happened, in the sense that the EU was meant to be a voluntary association of equal states.

Germany’s Choice

  • Project Syndicate
  • April 9, 2013

FRANKFURT – The euro crisis has already transformed the European Union from a voluntary association of equal states into a creditor-debtor relationship from which there is no easy escape. The creditors stand to lose large sums should a member state exit the monetary union, yet debtors are subjected to policies that deepen their depression, aggravate their debt burden, and perpetuate their subordinate position.

Remarks delivered at the Center for Financial Studies

  • Frankfurt, Germany
  • April 9, 2013
My objective in coming here today is to discuss the euro crisis. I think you will all agree that the crisis is far from resolved. It has already caused tremendous damage both financially and politically and taken an extensive human toll as well. It has transformed the European Union into something radically different from what was originally intended.

Remarks delivered at the Boao Forum for Asia Annual Conference

  • Hainan, China
  • April 8, 2013
My assignment today is to give an overview of global financial markets. Well, the situation is very complicated with many cross currents and cross purposes. In order to explain what is happening let me put the current situation into historical context.

Europe’s Crisis of Values

  • Project Syndicate
  • December 31, 2012

NEW YORK – Xenophobia and extremism are symptoms of societies in profound crisis. In 2012, the far-right Golden Dawn won 21 seats in Greece’s parliamentary election, the right-wing Jobbik gained ground in my native Hungary, and the National Front’s Marine Le Pen received strong backing in France’s presidential election.

A Europe of Solidarity, Not Only Discipline

  • Project Syndicate
  • October 30, 2012
Originally, the European Union was what psychologists call a “fantastic object,” a desirable goal that inspires people’s imaginations. I saw it as the embodiment of an open society – an association of nation-states that gave up part of their sovereignty for the common good and formed a union dominated by no one nation or nationality.

Rule of Law Can Rid the World of Poverty

  • Financial Times
  • September 28, 2012

Poverty is on the retreat. Despite the global economic downturn, the World Bank and UN reported this year that the number of people living in extreme poverty has dropped in every region of the world for the first time since record keeping began.

Remarks delivered at the Institute for Media and Communications Policy

  • Berlin, Germany
  • September 10, 2012
Thank you all for coming. My purpose in coming to Berlin is to put before you a lasting solution to the seemingly intractable problems connected with the euro. That sounds like mission impossible. After all, the problems have been with us for a number of years and they have been growing worse rather than getting resolved.

The Tragedy of the European Union and How to Resolve It

  • The New York Review of Books
  • September 10, 2012
In a fast-moving situation, significant changes have occurred since this article went to press. On August 1, as I write below, Bundesbank President Jens Weidmann objected to the assertion by Mario Draghi, the president of the European Central Bank, that the ECB will “do whatever it takes to preserve the euro as a stable currency.”