Soros told CNBC yesterday:

  • The USA is already in a double dip recession.
  • The USA needs more fiscal stimulus.
  • Europe could experience TWO or THREE periphery defaults.  They would most likely remain in the EMU and default would be controlled.  Uncontrolled default could result in defection.
  • The Euro currency should remain fairly strong even in the case of defaults.
  • The European leaders are way behind the curve here.
  • A form of a central Treasury is required in Europe
  • This is a “more dangerous” situation than Lehman Bros.
  • The EMU will do what it takes to hold it all together.
Interview can be watched below:

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