Soros: The road from depression
Friday 30 September 2011 - by George Soros / Project Syndicate
Financial markets are driving the world towards another Great Depression with incalculable political consequences.
These steps would calm the markets and give Europe time to develop a growth strategy without which the debt problem cannot be solved.
Indeed, the importance of developing a growth strategy cannot be overstated, because the debt burden - the ratio of debt to annual GDP - rises and falls in part as a function of the rate of economic growth.
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Copyright: Project Syndicate, 2011. www.project-syndicate.org
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