"The economic freefall has been stopped...", Soros

According to the Reuters report, a billionaire investor George Soros stated on Monday that the US economic incentives are starting to work that led to the easing of the economic recession.

Soros expects the recovery to make up for around half of the current downturn and then he anticipates the move into stagnation. In spite of the fact dollar is still revealing weakness, he has a firm belief the US currency isn’t to lose much versus the euro, and he sees the buck to reverse the downtrend direction.

"The economic freefall has been stopped, the collapse of the financial system averted. National economic stimulus programs are starting to take effect. The downward dynamic is easing," Soros told the newspaper.

Soros also considers that the first region to pull out of the collapse would be Asia. Thus China is to catch up the US as the engine of world growth.

"But the crisis should motivate Germany as the strongest country to make proposals for a more efficient euro system. I am missing leadership from the German government on this," Soros said.

"Germany should no longer reject the issuance of European Union bonds," he said.