Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Soros rebukes Germany over 'can't do' attitude

Soros rebukes Germany over 'can't do' attitude (by Tim Rostan)

MADRID (MarketWatch) -- George Soros writes in a Financial Times op-ed Monday that the EU's summit late this week in Brussels is at risk of becoming a fiasco that ultimately helps usher Greece out of the euro zone if Germany persists in blocking efforts to spare Italy and Spain the market's current "excessive risk premiums." Even if such a "fatal accident" is averted, the famed global investor and philanthropist writes, an emerging danger is a permanent relegation of Europe's "periphery" to second-class status, with Germany effectively at the center of an empire. Soros concedes German Chancellor Angela Merkel and European Central Bank chief Mario Draghi are correct that ECB rules prevent the central bank from addressing individual countries' fiscal issues and proposes the creation of a European Fiscal Authority that could in turn establish a debt-reduction fund. While Spain and Italy would be required to undertake structural reforms, the fund would buy and hold the countries' outstanding debt. The main obstacle to such a scheme, in Soros's view: the "can't do" mode in which German politics is "mired."