In relatively few words he correctly assess the flaws of the Maastricht Treaty (the treaty that established the common currency and the rules designed to prevent government overindebtedness), and how the steps being taken to rectify things now are only exacerbating the split between core and peripheral Europe.

On this last point, he's especially critical of the deflationary stance of the Bundesbank, in Germany, and the impact that's having on sapping the domestic German demand that would be crucial towards helping the peripheral countries and staving off total collapse.

Even if you think you know it well, it's worth a quick read just to see Soros' brilliant way of describing the situation.