“You (Europe) need a Plan B and there’s no Plan B at the moment,” Soros said.

http://www.bloomberg.com/news/2011-06-27/exit-plan-for-eu-probably-inevitable-soros.html

Billionaire investor George Soros said it’s “probably inevitable” that a mechanism will be put in place to allow weaker economies to exit the euro.

“There’s no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable,” Soros, 80, said at a panel discussion in Vienna yesterday on whether liberal democracy is at risk in Europe. “We are on the verge of an economic collapse which starts, let’s say, in Greece, but it could easily spread. The financial system remains extremely vulnerable.”

“I think most of us actually agree that” Europe’s crisis “is actually centered around the euro,” said Soros. “It’s a kind of financial crisis that is really developing. It’s foreseen. Most people realize it. It’s still developing. The authorities are actually engaged in buying time. And yet time is working against them,” he said.

Because the “survival of the EU is of vital interest to us all,” there’s a need for a “Plan B,” he said, explaining that this could include EU-wide taxes, a “banking system guaranteed by European institutions, not a bunch of national banking systems,” or a financial transaction tax.

“You need a Plan B and there’s no Plan B at the moment,” Soros said. Instead, “authorities are sticking to the status quo” and not “recognizing that there are fundamental flaws that need to be corrected,” he said.

Comment by Adamantine:

Might plan B be in the Bible  ? Last week Soros’ University gave JS an honorary degree. Does JS have the plan B ?

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2 thoughts on ““You (Europe) need a Plan B and there’s no Plan B at the moment,” Soros said.

  1. Soros is an evil man, has been since he was younger. He wants a one world and I think very seriously he thinks he can run it, so who knows if he wants sunnyspot to be the top guy or not. Just a thought here, but anyway they are both evil according to the ways of God that is for sure.

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  2. Ridiculos…he call it as he see it…..The Europeans are in trouble and they refuse to belive it.
    I think on the contrary calling for a plan B is the wise thing to do!!! Nothing evil about it

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