Soros: Greece Headed for “Disorderly Default”

From an FT column tonight by George Soros:

As integration has turned into disintegration, Europe’s political establishment has also switched from spearheading further unification to defending the status quo. Now, anyone who finds the status quo undesirable, unacceptable or unsustainable must take an anti-European stance. As heavily indebted countries are pushed towards insolvency, the number of the disaffected grows, together with support for anti-European parties such as True Finns in Finland.

Yet Europe’s establishment still argues there is no alternative. Financial authorities resort to ever more desperate measures to buy time. But time is working against them. Greece is heading towards disorderly default and/or devaluation, with incalculable consequences.

via Europe need not slide into disintegration – FT.com.

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