George Soros recently spoke to the Bloomberg.com about the economic situation in Europe, and he has troubling news for the EU. He is closely watching is going on, and he has ideas that will help solve the problem quickly. This article explains what George believes is the problem in Europe, his solutions for the problem and his own background in economic observation.
#1: The EU Moves Too Slowly On Their Problems
George has long been critical of how slowly the EU dealt with the debt crisis in Greece, and he believes that the continent is waiting for the migrant crisis to work itself out. He sees many similarities in what happened in Greece and today, and he is hoping that EU leaders will step up to solve the problems. George believes that Germany is key, and he is waiting for Angela Merkel to handle the problem from her seat of leadership.
#2: Migrants Come With An Economic Responsibility
Migrants who are streaming out of Syria and into Europe are causing economic troubles of the continent. Every migrant can contribute to the economy when they get settled, but the migrants must be cared for before they can settle down. Fearmongering in Europe about terrorism is making it difficult for every country to care for their own migrants, and the migrants will be worse off if they are shipped to other countries. George wants to see leaders in Europe take responsibility for every migrant to ensure that every migrant fits into the European economy.
#3: Europe Is Struggling With Currency
Europe has been struggling with currency values as nearly every country in the EU adopted the Euro. The Euro has been sliding in value, and George made most of his money in speculating on currency. He can see that the currency is not doing well, and he knows that he could easily make another billion dollars on the Euro alone. The EU must make changes to ensure that the Euro is healthy before the leaders may go on with other policies.
#4: George Sees An Imminent Collapse
The trouble with the EU at the moment is that the union could fall without anyone in the union noticing. Countries around Europe are trying to decide if they want to stay in the EU, and the UK is seriously considering backing out. The UK has a large economy, and their loss would mean the end of the EU.
George Soros is asking people to be cautious when looking at the EU and the Euro. The migrant and currency crisis alone could sink the union, and George hopes that people around the world will take notice before it is too late.