American billionaire George Soros slammed German Chancellor Angela Merkelin an interview published on Sunday, warning that her policies could lead to a repeat of the Great Depression.
“I admire Chancellor Merkel for her leadership. But unfortunately she is taking Europe in the wrong direction,” the financier and philanthropist told the weekly Der Spiegel.
Soros warned against addressing the crisis with spending cuts, urging the injection of funds instead.
“Otherwise we will repeat the mistakes that plunged America into the Great Depression in 1929. That’s what Angela Merkel doesn’t understand,” he said.
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