Euro Crisis: Soros - "Germany must take full responsibility" if it blocks Euro bailout fund

Leading hedge fund manager George Soros has argued that “Germany must take full responsibility for the financial and political consequences” if it blocks the creation of a eurozone fund to buy and hold debt of crisis hit countries.

Arguing for a debt reduction fund that would issue bonds supporting by all eurozone states Mr Soros said such a plan would “pass on the benefit of cheap financing to the countries concerned”.

Writing in the Financial Times he stated that Germany’s current position of establishing a political union before a a fiscal and banking union was both “unrealistic and unreasonable”.

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