George Soros feels Germany’s Merkel ‘is key to solving’ the migrant crisis

By FXStreet FXStreet (Mumbai) – Billionaire financier George Soros in an interview with New York Review of Books warned that ‘EU is on the verge of collapse’. He provided some insightful take on subjects that are haunting politicians and monetary policymakers alike. In the interview, he touched upon the Greece crisis and explained why it is no longer considered an interesting country by investors. He spoke extensively on the migrant crisis and how a lack of a proper policy on asylum seekers has turned a problem that developed over migrants entering Europe into a full blown crisis. He also spoke of Brexit, highlighting that EU will be much weaker if Britain chose to leave. He also warned EU against repeating their Greece mistake with Ukraine.

On Greece…

Soros feels “Greece was mishandled from the beginning.” He explained how the Greece crisis deepened over the years. Greece’s national debt became unsustainable on account of the punitive interest rates charged by Germany led EU on the loans offered when the crisis first surfaced in 2009. Greece repeated its earlier mistake in the negotiations held 2015. According to Soros, the EU has managed to impose conditions on Greece which will further push it into deeper depression. Till …read more

Source:: FX Street