Few individuals understand the nature of markets better than George Soros and I believe that he is right on in regards to his thoughts on Europe. The EU has proved to be extremely problematic and ripe with unforeseen consequences. I also think he is right on that austerity was a terrible idea given the risk of deflation, as opposed to inflation. Mario Draghi has done a great job in providing confidence but as we’ve seen in the United States as well, conflicting monetary and fiscal policies have delayed the recovery substantially. I still don’t believe you’ll see real growth as defined by employment and wages unless you get more cohesion between monetary and fiscal policies, and by the time that occurs there will have been so much excess liquidity created that the shift between deflation and inflation could be ultra-dramatic, potentially resulting in hyper inflation.
http://www.valuewalk.com/2013/10/george-soros-future-europe/#!