George Soros says Germany has three months to save the eurozone
Speaking at a conference in Italy Mr Soros said the eurozone’s fate lay firmly with Germany, which he urged to agree to measures which would help the region’s ailing banking system and ease borrowing costs among the most troubled member states. “In my judgment the authorities have a three months’ window during which they could still correct their mistakes and reverse the current trends,” he said. “By the authorities I mean mainly the German government and the Bundesbank because in a crisis the creditors are in the driver’s seat and nothing can be done without German support.
“In the 1980’s Latin America suffered a lost decade; a similar fate now awaits Europe. That is the responsibility that Germany and the other creditor countries need to acknowledge.”
Mr Soros, who famously made $1bn betting against the pound in 1992, said the Greek crisis would come to a head this autumn
Read more: The Telegraph, 3 June 2012