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- Veröffentlicht auf Amazon.com
Format: Kindle Edition
Even though Soros studied philosophy and economics in London during the fifties, he learned much more from practice. As a pioneer of the Hedge Fund industry, and the most successful global macro manager ever, understands every aspect of the economic and political developments through the markets behavior. This the reason, that he is one of the best to teach us, what really causes the problems in the EU.
During the interview - which is conducted by an experienced journalist, Peter Schmitz from the Spiegel - Soros mostly talks about the current state of the EU economy, focusing especially of the vast disharmony between the financial and banking system in relation to the Euro. I was surprised many times when I was reading Soros' thoughts about the reasons. I knew from his earlier articles at some level, that he blamed Germany's selfish attitude, but I also thought the he also blames the PIGS countries either. It turns out, that only the first one is true. Soros has very profound arguments to support this view. I also didn't know, that he has such a pessimistic view on the future, especially that a decade ago he wrote in his books about the open society, he said that the EU is a role-model for the global community in building an open society. Of course, that doesn't guarantee economic success, something that he admits now.
Even though the book has one of the clearest view of the current snapshot of the EU economy, Soros tends to change subject too many times (something he tends to do in his other interviews too), which is a little annoying when you'd like to read more about the reasons behind his arguments, and Schmitz doesn't always handle him well in these cases. One example: as a Hungarian, I was personally a little disappointed, that when Soros was talking about the new EU countries and their more healthy state, but when he mentions that Hungary (where he was born and still has many roots) is an exception, Schmitz doesn't ask what he is referring to. The other problem is, that the book is quite short, one can suspect, that Soros had more to say, even though he touches many subjects including his life, hedge funds, other parts of the global economy, etc..
In the book, especially in the appendix, one can learn some more details about the basis of Soros theory of the markets and the society dynamics. These parts are mostly familiar for those, who read his earlier works. Also we can learn some of his life events, which are also repetition from his earlier books and interviews.
To summarize it, this book is well worth a read if you want to understand why is the EU and especially the Eurozone in its current situation. Five star, if it's the first Soros book or extensive interview for the reader, but four if you've read his earlier books.