Soros criticises EU budget rules inflation focus

Renowned U.S. financier and philanthropist George Soros criticised the euro zone's strict budget rules Monday, saying there are serious problems in the management of the common currency that must be resolved.

Commenting on the European Union's stability and growth pact, which limits budget deficits to 3% of gross domestic product, Soros said it focuses too much on controlling inflation and not enough on stimulating economic growth.

"That is not appropriate at a time when you have deflation pre