George Soros Would Like The People Of Germany To Withdraw From The Euro, Let It Crash, And Retire To Spain Where They'll Live Like King And Queens
He added that he's just messing, "of course," but seriously, think about it. Dare to dream. We can do this. And then together, we will dance.
Germans should consider the following thought experiment: withdrawal from the euro. The restored Deutschemark would soar, the euro would plummet. The rest of Europe would become competitive and could grow its way out of its difficulties but Germany would find out how painful it can be to have an overvalued currency. Its trade balance would turn negative, and there would be widespread unemployment. Banks would suffer severe losses on exchange rates and require large injections of public funds. But the government would find it politically more acceptable to rescue German banks than Greece or Spain. And there would be other compensations; German pensioners could retire to Spain and live like kings, helping Spanish real estate to recover.
