Billionaire investor George Soros predicts that the euro will survive, but cautions that Europe is likely to become "a German empire."
He didn’t use the word ‘Reich’, of course: he’d be sensitive to shadowy historical undertones and averse to Godwin’s tendencies.
But by warning that Germany risks being the centre of an ‘empire’ that ‘caused the collapse of the eurozone’, he certainly raises the spectre of a Fourth Reich, doubtless to the delight of those who have long believed that the ECSC/EEC/EC/EU is just a German racket to achieve by incremental treaties what they could not accomplish with bombs and bullets.
Soros warnt vor deutschem Weltreich’, read headlines in the German press. According to the multi-billionaire financier, the Reich re-emerges as the mechanism for effecting German foreign and economic policy: it is the kingdom or realm for the realisation of the dreams of kaisers long gone and chancellors not so long gone.
If there is a conspiracy, it is being hatched in Brussels, not Berlin. There is no sense at all in which Chancellor Merkel’s patriotism is heir to Chancellor Hitler’s nationalism: and yet both may be perceived and interpreted as aggressive assertions of German imperialism.
But when you’re omnipotent in the money-markets and perfectly able to bring down national currencies to determine which governments rise and fall (as Soros did with the Major/Lamont foray into the ERM), you’re not obliged to consider trivial political sensitivities or spare impotent politicians a little personal embarrassment. It is their democratic vocation to be buffeted by market ‘events’; it is the calling of the wealthy elite (in accordance with elite doctrine) to restore stability, effect equilibrium and rescue the world – even (or preferably) at the expense of democracy.
Soros is persuaded that Germany will do what is necessary to preserve the euro – but only just. This will produce a eurozone dominated by a booming German taskmaster in northern Europe fiscally lording it over the bust states in the south, which will be locked in perpetual depression and mired in insurmountable indebtedness. Thus, he warns, the visionary European Union which ‘fired people’s imagination’ will become ‘a German empire with the periphery as the hinterland’.
Perhaps Nick Ridley was right after all.
Read more: As George Soros warns of a eurozone Reich, why Germany will do whatever necessary to preserve the single currency | Mail Online