Sunday 19th of November 2017

George Soros says the EU is ‘on the verge of collapse’ PDF Print E-mail

Barbara Kollmeyer writes January 21, 2016 at MarketWatch:

Billionaire prophet of doom George Soros said the European Union is on the “verge of collapse” as it faces five or six crises at once.

“The Greek crisis taught the European authorities the art of muddling through one crisis after another. This practice is popularly known as kicking the can down the road, although it would be more accurate to describe it as kicking a ball uphill so that it keeps rolling back down,” Soros said in an interview with The New York Review of Books.

Soros achieved fame in 1992 by making a huge profit by shorting the British pound before it left the Europe’s exchange-rate mechanism, a system of exchange rates pegged to a trading band that was a precursor to the euro. Among the myriad problems facing Europe, ranging from Russian aggression to Greece, he says the migrant problem is the biggest threat. More than an estimated million asylum seekers came into Europe last year alone, largely from Syria.

Read more here.




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