Hedge fund legend George Soros believes the future of the European Union is something we should all be concerned about as the continent wide political and social community reaches what he believes to be a crisis point. Soros paints a bleak picture for the future of the EU in an interview published by his own Website, which he believes allows himself and those around him to be prepared for the worst case scenario of a European collapse that could occur in the coming months. Problems caused by Russia, a rising migrant crisis, Greece, and the referendum on a British exit from the European Union will all come to a head in the coming year.
George Soros has not changed his view of the German Chancellor Angela Merkel, which he has previously stated is not favorable after Merkel mishandled the Greek debt crisis; the view of Soros is that Merkel has improved her leadership skills by trying to handle the refugee crisis in Europe with a more long term view. However, the end of the open society the European Union was created for is something George Soros believes is in sight as member nations close their borders. Soros agrees with Merkel that the open society is important for the future, but believes Russian aggression in Syria is designed to drive more refugees into Europe to cause increased economic and social strain.
Hungarian born George Soros has been seeking to invest in Europe and provide assistance in the form of his own Open Society Foundations, which were recently barred from working across Russia after being seen as a security threat. The crisis in Greece is something Soros has been extremely vocal about since the problems became public in 2009 with Angela Merkel struggling to cope with the pressures the problems in Greece have caused. Soros believes the end of the Greek crisis will not come while the nation remains part of the Euro zone single currency.
In contrast, George Soros said on Bloomberg he believes it is of vital importance for the U.K. to remain in the European Union as the country only makes Europe stronger. A British exit will come to the fore in June 2016 when a referendum is held on the issue, which George Soros believes should be completed with a vote to remain in Europe as British trade benefits greatly from being part of this market. However, Soros fears the majority of the British public will vote for an exit, which will only place more pressure on the often rumored collapse of the European Union.