George Soros thinks that all of Europe is becoming fiscally Germanic, and he’s not happy about it.
The famed financier and philanthropist was in Brussels Tuesday to discuss the plight of Europe’s Roma population, which made headlines last month when France began deporting large groups of Roma back to Eastern Europe.
But he took some time during a lunch with a small group of journalists to criticise Germany’s insistence on fiscal austerity, which he believes is being imposed continent-wide through Berlin’s influence over the EU’s economic institutions.
“They have emerged as the hegemon of euro-land, who set the policy for euro-land; they write the operating instructions for the new common fiscal policy,” Mr Soros said. “Europe, because of the fiscal rectitude imposed by Germany, faces I think a prolonged period of economic stagnation, conceivably decline.” Read more