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

Billionaire investor George Soros. Photographer: Simon Dawson/Bloomberg
Billionaire investor George Soros. Photographer: Simon Dawson/Bloomberg

Jan. 27 (Bloomberg) -- 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.”

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

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