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Tuesday 10.12.2019 | Name days: Judīte, Guna

Soros: EU economy – on the brink of collapse

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

George Soros

The European Union (EU) is on the verge of an economic collapse and one of the countries will inevitably leave the eurozone, believes the billionaire George Soros.

It is necessary to tackle the situation head on – the economic collapse is imminent and might start, let’s say, in Greece. However, it can easily spread to other countries as well. We are on the edge of collapse and it is high time to recognize the necessity of change, CNBC cites Soros.

Soros also acknowledges that the financial system can still be very easily exposed to external influences.

According to investors, the EU could increase the total budget, redirecting part of the member countries’ payments to Brussels, tripling the size of fund used for bailing out the debt-crisis-stricken countries.


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