George Soros Warns About EU Collapse Due to Six Crises
Although he might prefer not to be called a prophet, Billionaire George Soros continues to issues grave warnings for the demise of the European Union. He has written a book on the topic. Now on February 11, 2016, George Soros shares his insights with German magazine – Wirtschafts Woche.
“Taking Warnings to Germany”
The New York Review of Books has given the world a sneak peek of the important interview between Billionaire George Soros and Gregor Peter Schmitz. Georges Soros said, “[t]he EU now is confronted with not one but five or six crises at the same time.” Soros lists Syria, Greece, Russia, Ukraine, England and Paris.
Soros continued, “Merkel correctly foresaw the potential of the migration crisis to destroy the European Union. What was a prediction has become reality. The European Union badly needs fixing.” When the European Union was strong economically, it could integrate East Germany into the system. Sadly, with continued struggles in Greece, the EU is losing cohesion.
“Political Economic Struggles”
Greece is discussing leaving the European Union. Some Germans want Greece to leave. Syrian refugees place a higher burden on the EU social welfare system. Ukraine wants to join the European Union. But where will the money come from?
The Greeks refused to accept the previous financial arrangements set forth by the EU bankers. But, the Greeks still need capital. With that “unresolved problem” still remaining, it is difficult for the EU to handle more.
“EU is Soros Vision of Open Society”
Soros admitted the following, “I have always looked at the EU as the embodiment of the principles of the open society.” Soros commended Merkel while being quite honest in her weaknesses: “The open society that both Merkel and I believe in because of our personal histories, and that the reformers of the new Ukraine want to join because of their personal histories, does not really exist. The European Union was meant to be a voluntary association of equals but the euro crisis turned it into a relationship between debtors and creditors where the debtors have difficulties in meeting their obligations and the creditors set the conditions that the debtors have to meet.” Soros had advised the EU to renegotiate bad debt in 2008.
Instead, Greek debt terms remain quite onerous. “Greece was mishandled from the beginning,” he stated. Soros concluded, “[t]herefore, the very survival of the EU is at risk.”
“What will be the straw that breaks the camel’s back?”
No political union can survive unless it solves its problems. George Soros understands this all too well. He has been warning Germany and the EU since 2008. Will the EU finally listen before its too late?