George Soros delivered a speech today in Trento, Italy today on the Eurozone crisis and it's an absolute dynamo.
You really ought to read the whole speech, which is on his personal webpage, as it starts off with an overview of his economic theories (which revolve around the idea that markets are deeply imperfect and prone to turn into bubbles based on human fallability and lack of knowledge) and then nicely explains how all of this explains the current crisis in Europe.
What's fantastic is that he really gets it from all angles.
This is a really killer characterization of the Eurozone:
I contend that the European Union itself is like a bubble. In the boom phase the EU was what the psychoanalyst David Tuckett calls a “fantastic object” – unreal but immensely attractive. The EU was the embodiment of an open society –an association of nations founded on the principles of democracy, human rights, and rule of law in which no nation or nationality would have a dominant position. Read more.....