By Jesse Westbrook
Bloomberg - Mar 12, 2014
Billionaire investor George Soros said Europe
faces 25 years of Japanese-style stagnation unless politicians pursue
further integration of the currency bloc and change policies that have
discouraged banks from lending.
While the immediate financial
crisis that has plagued Europe since 2010 “is over,” it still faces a
political crisis that has divided the region between creditor and debtor
nations, Soros, 83, said in a Bloomberg Television interview in London
today. At the same time, banks have been encouraged to pass stress
tests, rather than boost the economy by providing capital to businesses,
he said.
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