Soros sees Germany’s guilt in euro’s collapse

"German policy is a danger for Europe, it could destroy the European project," according to George Soros interview released on Wednesday.

He claims, German's budget savings policy risks destroying the European project and a collapse of the euro cannot be ruled out.

He also added that he "could not rule out a collapse of the euro." Soros believes that in case the Germans don't change their policy, their exit from the currency union would be helpful for the rest of Europe.

In turn, Chancellor Angela Merkel unveiled plans earlier this month for €80 billion ($107 billion) in budget cuts over the next four years, a package she hopes will bring Germany's structural deficit within European Union limits by 2013.