George Soros calls on Germany to save euro
US billionaire investor George Soros has called on Germany to contribute more to help save the euro, according to an interview published in the weekly newspaper Welt am Sonntag.
“The Germans should decide if they want the euro or not. If so, they have to carry out financial transfers. If not, they should leave theeurozone,” said Soros, also a major philanthropist and author.
If Germany chooses to ditch the eurozone, its exports would suffer as the “new German currency would find itself at a high value.”
Soros blamed the German government and Bundesbank for putting the euro in peril over their insistence on austerity and price stability.
“Saving and monitoring price stability worked in Germany and is leading to, in current conditions, bad luck for Europe,” he said.
The eurozone has come under severe pressure amid alarm over the state of public finances of countries including Greece, Ireland and Portugal.