A Quote by George Soros
The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.
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Economic polarization is also occurring between creditor and debtor nations. This issplitting the eurozone between Germany, France and the Netherlands in the creditor camp, against Greece, Spain, Portugal, Ireland and Italy falling deeper into debt, unemployment and austerity - followed by emigration and capital flight.
Toward the middle and end of the Fifties, West European countries became somewhat more important as providers of aid to underdeveloped countries. It was partly due to the prodding of the United States that these countries, as they regained economic viability, should shoulder their share of the aid burden.
It has been convincingly demonstrated that countries where there are high rates of poverty, or high rates of economic inequality, are the countries with the highest rates of religious beliefs.
Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.
We need economic growth in Europe and we need to find a solution for the excessive interest rates that are making it difficult for many countries to get their own debt under control.
There's a tradeoff. Yeah, I lose the deduction that I really like, but my tax rate is going to go down, and I don't have to fill out that form anymore. It's much simpler, rates are lower, and that tradeoff has worked in many countries. Many countries have just cleaned house of all those exemptions in order to provide lower rates, and people buy it.
The last 15 years we had one of the biggest economic booms. But I think a few bubbles have burst in a few countries. So we are all going through the same things. But let's say Ireland, in the '70s and the '80s was tough, but if you grow up with a tough background it makes you strong.
Whatever market for manufactured goods emerged in colonial and dependent countries did not become the "eternal market" of these countries. Thrown wide open by colonization and by unequal treaties, it became an appendage of the "internal market" of Western capitalism.
By laying the groundwork for a system centered on home ownership rather than the public housing popular in Europe, the New Deal made possible the great postwar housing boom that populated the Sun Belt and boosted millions of Americans into the middle class, where, ironically, they often became Republicans.
Industrialized countries have disproportionately more cancers than countries with little or no industry (after adjusting for age and population size). One half of all the world's cancers occur in people living in industrialized countries, even though we are only one-fifth of the world's population. Closely tracking industrialization are breast cancer rates, which are highest in North America and northern Europe, intermediate in southern Europe and Latin America, and lowest in Asia and Africa.
Businesses and households react to lower rates by investing and spending more. Lower rates also support the prices of housing and financial assets such as stocks and bonds.
In Germany, many other countries, college tuition is free. Why isn`t free in America? Why do we have the highest rate of childhood poverty when other countries have rates much lower than we have? Why don`t we have pay equity for women workers? Why aren`t we leading the world in transforming our energy system in terms of climate change? We can do that. Are we dumb? Are we lazy? Not the case.
My struggle led to the reunification of Germany and the creation of the state of Europe. We destroyed the borders; globalisation is on the horizon.
As developing countries became bigger traders, it was clear that the old way of doing business wouldn't fly. To get them back to the bargaining table, the wealthy countries had to offer something more: a new round of talks that would use trade as a tool to help developing countries grow.
Germany remains among the few countries in Europe to acknowledge, officially and nationally, its responsibility for the crimes it led against our people.
If the Chinese can't buy U.S. products, they'll buy them from European countries and then develop stronger economic ties with France and Germany and perhaps side more with those countries when international issues flare up.
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