Billionaire George Soros is more than a hedge fund investor that has made an incredible amount of money. Soros is a social activist and humanitarian that has set up foundations in countries around the world. Soros is making a difference in Russia, the Ukraine and in other nations where people lack the freedom to express themselves. He is not afraid to stand up for what he believes, and he frequently speaks about the economic and political dangers that exist in certain parts of the world. Bloomberg TV recently asked him to talk about the European Union and he accepted their invitation.
Mr. Soros posted that interview on his website, and the people in the North America that read it realized that the world’s economy is on shaky ground. The 30-year-old European Union has some serious issues, and a large number of Europeans believe the EU has strayed away from its original role as a security organization and economic promoter. Europeans consider the EU a threat to the stability of the continent. Some European analysts say the 28-member group is a dysfunctional, arrogant and narcissistic bunch of self-serving nations that leads by chance not by methodical design.
George Soros thinks the EU is on the verge of an epic fail. The members of the EU have violated their founding principles by setting up checkpoints on their borders to screen asylum-seekers from the Middle East. Millions of people from Syria and Iraq, Afghanistan, and Africa have invaded Europe hoping to get a fresh start, but along with well-meaning people that need help an unknown number of terrorists have intermingled with the group, and that has sent a wave of panic through every corner of Western Europe. European Union members say the sheer amount of refugees has created issues for their economies, but when the terrorists’ factor is added to the mix, they say the security of their citizens has been compromised.
The main issue with the EU, according to Mr. Soros, is the lack of leadership during the migration crisis. Rather than working as a unified group, the EU is fragmented. Individual nations are taking measures into their own hands. The open border concept is gone, and it may never return, according to Soros. And to make matters worse, the EU has yet to find an answer to the euro crisis or the strong growth of nationalism in several member nations.
In the interview, Soros mentioned Angela Merkel and her role in the EU. Soros thinks she could bring order back, but she is involved in a political struggle of her own in Germany. For years, there’s been whispers that the EU was going to fail, but Soros thinks 2016 could be the year those whispers become reality.