Billionaire investor George Soros says Germany is the "main protagonist" in the euro crisis.
In a speech he gave at Humboldt University in Berlin this week, Soros said the country risks inflicting deflation on the European Union because of its insistence on budget austerity.
"As the strongest and most creditworthy country it is in the driver's seat," Soros says.
"As a result, Germany objectively determines the financial and macroeconomic policies of the eurozone without being subjectively aware of it. When all the member countries try to be like Germany they are bound to send the eurozone into a deflationary spiral.
"The euro is in crisis and Germany is the main protagonist.
"Unfortunately Germany does not realise what it is doing. It has no desire to impose its will on Europe; all it wants to do is to maintain its competitiveness and avoid becoming the deep pocket to the rest of Europe."
Soros says by insisting on pro-cyclical policies, Germany is endangering the EU.
"I realise that this is a grave accusation, but I am afraid it is justified. To be sure, Germany cannot be blamed for wanting a strong currency and a balanced budget, but it can be blamed for imposing its predilection on other countries that have different needs."
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