Interviewed on the Frost Programme (BBC1) this morning, George Soros welcomed countercyclical measures such as the lowering of interest rates by the central banks, but thought the ECB should do more.
Mainly he spoke of the gap between markets which have become global, and the political system which is still based on the sovereign nation state. This raises security problems within the rich states. He would like to see an issue of Special Drawing Rights by the IMF which could be done now to help aid to poorer countries. Chris Burford London
