George Soros fears for EU

I don't think the capital move has anything to do with Soros but with leaked plans from the Spanish government to raise the capital tax. Currently the capital tax threshold for individual residents is around 700.000 euro (combined value of home, cash reserves, stocks, bonds, etc) and they plan on lowering that to EUR 400.000. Part of the same plan is also raising the tax percentages. This means that hundreds of thousands of Spanish citizens and residents who up to now were exempt from capital tax will all of a sudden get hit with this annually and the well off even more.

That makes sense. Spain has also introduced negative interest rates (since April).
We better all think about moving our money out.

We all know money , power and control make Soros tick . Back in 1992 ( ? ) Soros "shorted" Sterling and it made him a fortune and was front page news for days . Yet he does an interview last week regarding EU frailties now and it does not get a mention from most main stream media outlets . Personally I think the sooner Spain , Italy and other Med based countries get out of the Euro the better .

Conversely , I think Soros done the UK a favour - it kept the UK out of the Euro . Sterling bounced back over time and many of us benefited , able to buy homes in Spain and else where using the exchange rate to our advantage .

I'm very cynical but I don't think I've ever called a doom and gloom merchant - still first time for every thing !