In my judgment the authorities have a three months’ window during which they could still correct their mistakes and reverse the current trends.

By the authorities I mean mainly the German government and the Bundesbank because in a crisis the creditors are in the driver’s seat and nothing can be done without German support.

— George Soros on the euro crisis.

(Source: georgesoros.com)

Like some dreadful joke, the euro needs French reform, German extravagance and Italian political maturity.

— The euro will survive only if every country confronts the choice it shies away from. (via theeconomist)