Harsh Words

George Soros Takes Critical Stand

George Soros took a hard line against the European Union at Davos on Wednesday. While he thinks the EU and its currency can be saved, he had harsh words for its current leadership and policies, saying, "I'm not sure if authorities (in the EU) are deliberately prolonging the crisis, or if this is being driven by divergent views.” He laid out two steps he thinks must be taken to turn the situation around; he said the structure of the European Union must be changed and that the organization must encourage economic stimulus rather than austerity to revive the beleaguered euro.