Multi-billionaire George Soros has been actively involved in European and international politics for many years. He is not a politician by trade but a very wealthy businessman who has the money and clout to influence governments. Soros is a political lobbyist who has supported many governments such as his home nation of Hungary. This self-made billionaire sees a lot of problem with the EU and he is urging for sweeping reforms so that the EU will stay in place. If the EU does not deal with the current crisis that is taking place all throughout Europe, it will not last for very long.
In January of 2016 the EU was facing a whole slew of challenges that could easily undermine the 19 member union. Some of the biggest threats to the EU has to do with the demise of Ukraine and the power positioning of Russia. According to Soros, the nation of Ukraine is going down the same path as Greece. In other words, it is just a matter of time before the nation becomes bankrupt.
Ukraine is not able to produce like other EU member states (except for Greece). Since it cannot function in this way, the Euro currency is not going to thrive there at all. Soros warns that this problem should be dealt with immediately by the EU; otherwise the EU will be strapped with two member states that are underperforming. Greece and the Ukraine could easily drain other EU member economies that are trying to keep them afloat.
The EU is also in danger of Russia’s jockeying for position within the world of politics. Under Putin, Russia is trying to display its power in the world. Soros reported by Bloomberg warns that this could be a problem for the EU if Putin starts to gain influence over situations and factors that could interfere with the EU. He claims that Putin’s positioning must be stopped.
Soros also tells the EU that the terrorist attacks in November of 2015 has sent a chill throughout nations all over Europe. He states the attacks has cast a shadow over the governments and has everyone one edge. Since more migrants are pushing into Europe from countries such as Syria and Afghanistan, many nations are now in grave danger of a future terrorist attack that will probably be worse than the one in Paris.
The migrant situation threatens to undermine the EU because a nation cannot have too many foreigners moving across their border. This could disrupt the social, religious and economic stability within a region. This trend is currently happening in Europe now and unless the EU changes the direction of this crises the EU member nations will suffer the consequences. Ultimately, Soros wants the EU to revamp a lot of its policies to correct this situation. Soros’s full discourse on this matter is made available at CNBC through an article titled Europe on the Verge of Collapse: Soros