Germany must lead or leave euro zone: Soros
BERLIN (AFP) - Germany must lead the euro zone out of recession or quit the currency bloc to save the future of Europe, billionaire financier George Soros told the New York Review of Books.
"In my judgment the best course of action is to persuade Germany to choose between becoming a more benevolent hegemon or leaving the euro. In other words, Germany must lead or leave," Mr Soros wrote in an article published in the New York Review of Books last week.
"The difficulty is in convincing Germany that its current policies are leading to a prolonged depression, political and social conflicts, and an eventual break-up not only of the euro but also of the European Union," Mr Soros argued.
Mr Soros, 82, has frequently criticised Germany for its insistence on austerity. Since the euro zone's mountain of debt is denominated in euros, "it makes all the difference who remains in charge of the euro," he said.