(Reuters) Germany should back growth or leave the Euro-George Soros

Germany should leave the euro zone if it is not prepared to take a more decisive lead in helping the euro zone’s weaker nations escape a spiral of increasing indebtedness and economic decline, veteran financier George Soros said on Saturday.

Soros said Europe faced a prolonged depression and an acrimonious end to the European unification project if steps were not taken to help its southern nations grow their way out of the debt crisis by collectively assuming some of their debt and relaxing its German-led insistence on austerity.

“Germany should either lead in developing a growth policy, political union and burden-sharing, accept the cost of leadership, or leave through an amicable arrangement,” Soros said in an interview with Reuters television in Vienna.

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Consumer/consumer spending, Corporations/Corporate Life, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Germany, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

3 comments on “(Reuters) Germany should back growth or leave the Euro-George Soros

  1. Bill Matz says:

    It astounds me that someone like Soros, an unrepentant Jewish collaborator with the Nazis in Hungary, is given any credibility on moral or ethical issues.

  2. yohanelejos says:

    I think what he’s saying is right, though — Euroland has to provide a means for the weak sisters to grow at some point, and Germany is the powerhouse for the region.

  3. MichaelA says:

    George Soros thinks Germany should leave the Euro – I am sure the Germans are falling over themselves to comply. They might even have given the story more than a millisecond’s attention.