It would be a wonderful gesture of solidarity if the countries that sell perpetual bonds in their own name would also guarantee an issue by Italy. This would strengthen the EU and thus benefit them indirectly. Eventually, the EU could grow strong enough to also issue perpetual bonds in its own name. That is a goal worth striving for.
George Soros is chairman of Soros Fund Management and chairman of the Open Society Foundations. A pioneer of the hedge-fund industry, he is the author of many books, including "The Alchemy of Finance, The New Paradigm for Financial Markets: The Credit Crisis of 2008" and "What it Means, and The Tragedy of the European Union."