George Soros: Germany should back growth or leave euro – Telegraph.

As the debt crisis continues in Europe, many of the same arguments are being made within the eurozone countries as to the best way forward. Italy and Spain are both edging closer to needing a bailout; and it will not be long before Greece will be requiring another bailout package.

However, the arguments between growth and austerity continue. Germany are reluctant to continue to pay the bills, without the proper checks in place. But will Spain and Italy be prepared to sign away political autonomy?

Now George Soros has said “Germany must back growth or leave the euro”.  To back growth means Germany continues to bailout and lend more money – increasing indebtedness. Germany has made it clear it desires growth, but not by creating more debt.

However, if Germany were to leave the euro it would enable the Euro to devalue and ease the economic pain in the struggling nations.