Billionaire speculator says single currency's prospects would be better without Germany, the eurozone's most dominant member

George Soros, the billionaire speculator best known as "the man who broke the Bank of England" in 1992, has launched a stinging critique of Germany's role in the euro crisis and suggested the single currency's prospects would be improved if its most dominant member were to quit.

In an incendiary speech made on Tuesday afternoon in Germany's financial centre of Frankfurt, the hedge fund trader told Europe's richest country it had gone too far during the bailout of Cyprus, was itself heading for recession and should either leave the euro or reverse its long held opposition to eurobonds – a form of sovereign debt that would mean each member country's borrowings were guaranteed by the whole eurozone.

"My first preference is eurobonds; my second is Germany leaving the euro," he said in his lecture, entitled: How to save the European Union from the euro crisis.

"It is up to Germany to decide whether it is willing to authorise eurobonds or not," he said at Frankfurt's centre for financial studies.

"But it has no right to prevent the heavily indebted countries from escaping their misery by banding together and issuing eurobonds.

"In other words, if Germany is opposed to eurobonds it should consider leaving the euro and letting others introduce them."
http://www.guardian.co.uk/business/2013/apr/09/george-soros-tells-germany-quit-euro