Europe Needs Stimulus to Offset German-Led Austerity, Soros Says

Billionaire investor George Soros said Germany is “dictating” austerity for the euro area that needs to be offset with an economic stimulus as a “second phase.”

While Germany has “a right to take that position” because it chafes at being Europe’s paymaster, “you then still need a stimulus,” Soros said in an interview with Bloomberg Television’s Erik Schatzker in Davos, Switzerland, today. “It’s important that we should start thinking about it. Because without it the situation is hopeless.”

To contact the editor responsible for this story: Tony Czuczka at aczuczka@bloomberg.net

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