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George Soros: “Europe Is On The Verge Of Collapse”

george-soros-insider-trading  George Soros: “Europe Is On The Verge Of Collapse” george soros insider tradingBillionaire 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.  The billionaire trader said German Chancellor Angela Merkel “correctly foresaw the potential of the migration crisis” to destroy Europe, something which has become a reality. With her leadership now under threat, the only people who can stop her “dire prediction” from coming true are the Germans themselves, who must step up and face the responsibilities of being a “dominant power in Europe,” he said. He criticized Europe for not having a decent asylum policy, which he said has turned the refugee situation from a “manageable crisis” into an “acute political crisis,” panicking not just the those seeking shelter, but the general public as well.   Soros has said his charitable foundation is advocating for a plan that would allow asylum seeks to reach the safety of Europe in an orderly manner. Admitting that would cost money, he suggested that the EU issuing long-term bonds using its “largely untapped AAA borrowing capacity,” to foot the bill.  “The burden of servicing the bonds could be equitably distributed between member states that accept refugees and those that refuse to do so or impose special restrictions,” he said.  Outside of migrants, Soros said financially strapped Greece, which is supported by a European bailout worth billions of euros, remains another problem for the eurozone, and that the country will never flourish or be an investible region until it leaves the currency union. He also said the European Union will be much weaker if Britain votes to leave. (The U.K. is not part of the eurozone.) British Prime Minister David Cameron has promised a national vote on the issue by the end of 2017.  Soros also had some gloomy thoughts about China, the world’s second-largest economy. “China is responsible for a larger share of the world economy than ever before and the problems it faces have never been more intractable,” he said. Read the full interview here.

[1] Barbara Kollmeyer, George Soros says the EU is ‘on the verge of collapse’, Market Watch, Jan 21, 2016 12:23 p.m. ET
[2] Europe on the verge of collapse: Soros, CNBC, Thursday, 21 Jan 2016 | 3:44 AM ET
[3] Tyler Durden, George Soros: “Europe Is On The Verge Of Collapse”, Zero Edge, 01/21/2016 04:00 -0400
[4] Soros: Europe on the Verge of Collapse, Newsmax, Wednesday, 20 Jan 2016 04:55 PM
[5] George Soros: Europe Facing Collapse, But Not Necessarily, Jewish Press, January 25th, 2016
[7] Europe on the verge of collapse: Soros, Yahoo News, January 21, 2016 3:44 AM
[8] Dr. Eowyn, Crocodile tears: George Soros says Europe on verge of collapse, DC Clotheline, January 21, 2016
[9] Geoffrey Grider, New World Order Power Broker George Soros Predicts The Collapse Of The EU, Now the End Begins, January 20, 2016


About Bill Wallace

Bill Wallace is a self-fashioned writter, a computer programmer and cybermarketer from Quebec City, Canada who decided to enter the political arena after his disillusionment with the socialist system under which he was living in the French Canadian province of Quebec.

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