The Eurozone's problem in one sentence

Davos 2012: George Soros warns 'debt crisis could destroy European political union' - Telegraph: "The trouble is that the austerity that Germany wants to impose will push Europe into a deflationary debt spiral" - George Soros at Davos 2012

(Soros also explained: "The measures introduced by the European Central Bank ... have relieved the liquidity problems of European banks but they did not cure the financing disadvantage from which the highly indebted member states suffer. Half a solution is not enough. It leaves the weaker members of the eurozone relegated to the status of third world countries that become highly indebted in a foreign currency.")

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