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George Soros: New year, same crisis
Thursday 26 January 2012 - by George Soros / Project Syndicate

We need a new way to get out of the eurozone crisis and this should involve the EFSF and the ESM alongside the ECB, says George Soros, chairman of Soros Fund Management and of the Open Society Institute.

The measures introduced by the European Central Bank last December, especially the Long Term Refinancing Operation, have relieved the liquidity problems of European banks, but have not cured the financing disadvantage of the highly indebted member...

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