Arab Today, arab today soros to germany \lead or leave\ eurozone
Last Updated : GMT 10:57:56
Arab Today, arab today
Arab Today, arab today

Soros to Germany: \'Lead or leave\' eurozone

Arab Today, arab today

Arab Today, arab today Soros to Germany: \'Lead or leave\' eurozone

Berlin - UPI

Germany should either lead the eurozone out of recession by promoting needed growth or leave the currency union itself, billionaire financier George Soros said. \"Lead or leave -- this is a legitimate decision for Germany to make,\" Soros told the Financial Times. \"Either throw in your fate with the rest of Europe, take the risk of sinking or swimming together, or leave the euro, because if you have left, the problems of the eurozone would get better.\" Soros\' interview echoed a commentary published Monday he wrote for The New York Review of Books and came hours ahead of a speech he was to give in Berlin Monday night on the same subject. The Hungarian-American investor-philanthropist -- a supporter of European integration but a critic of Germany\'s eurozone crisis management -- said in the interview and commentary he would greatly prefer for Germany, Europe\'s largest economy, to remain in the eurozone. \"Politically it would be a terrible blow,\" he told the Times. But he said for the good of Europe, Berlin must be persuaded to abandon its deflationary austerity stance and take on the role of a \"more benevolent hegemon,\" or a kinder leading nation. Benevolent German leadership in the eurozone could establish \"a more or less level playing field between debtor and creditor countries\" and create \"nominal growth of up to 5 percent\" that would permit \"Europe to grow its way out of excessive indebtedness,\" Soros wrote in his commentary, titled \"The Tragedy of the European Union and How to Resolve It.\" But he added, \"This would entail a greater degree of inflation than the Bundesbank [Germany\'s central bank] is likely to approve.\" Alternatively, if Germany left the eurozone, the currency would depreciate, which would cut national debts, even after adjusting for inflation, and let debtor countries regain competitiveness, he wrote. Soros wrote in his commentary he understood \"Germany\'s fear of becoming the deep pocket for Europe,\" carrying the debt burden of weaker economies if all 17 eurozone economies pool their debt. But Germany\'s current policy is creating \"a permanent division of the euro area into debtors and creditors,\" with debtor nations condemned to low growth because they are forced to pay a high premium for access to credit, Soros wrote. This will lead \"to a prolonged depression, political and social conflicts, and an eventual breakup not only of the euro but also of the European Union,\" he wrote in the Review of Books. He told the Times he was concerned that if the eurozone \"falls apart in acrimony, Europe will be worse off than it was before it started.\" He added that he expected to be attacked in Germany for his ideas because he is viewed as a financial speculator. \"But I am not only a speculator,\" said Soros, who has given away more than $8 billion to human rights, public health and educational causes over 30 years and played a significant role in Hungary\'s peaceful transition to capitalism from communism in 1989. \"I have effectively retired,\" Soros, 82, told the Times. \"I think it is appropriate to speak out at my age.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today soros to germany \lead or leave\ eurozone Arab Today, arab today soros to germany \lead or leave\ eurozone

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday