George Soros is out with his latest commentary. He believes Germany must champion a plan to convert all outstanding European debt into Eurobonds.
Failure to seize this moment would, I believe, lead to the disintegration and eventual collapse of the European Union.
Of course, many countries have lived through nightmares and survived. But the EU is not a country; it is an incomplete association of sovereign states that will not survive a decade or more of stagnation.
