This is from the FT (but most of my US subscribers do not get the FT). It should be read twice. Normally, anything George Soros writes makes me want to spit nails. We are at far lengths on the political spectrum. But he has this ... nailed. If you are a Eurozone economist or politician and want to save the euro, maybe you should read this three times. I have mentioned a number of studies as to why it cannot be done, but he lays out the path to what must be done, if the Eurozone is to continue to work. As I wrote in Endgame, it is a binary choice. It is not clear if the Eurozone elites can pull it off, but they will make a mighty effort. Here is their succinct path. I refer you back to last week's letter as to the deeper problems. And I remind you that the US had the same issues when we drafted our Constitution. I predict volatility. Brave of me, I know.