For a number of months the legendary hedge fund manager George Soros has been forecasting a global financial meltdown, but recent events in Syria could see the meltdown begin with the forecast collapse of the European Union. George Soros is a figure I have respected for a number of years for his financial acumen and his commitment to improving the lives of the people of the world though his Open Society Foundations. The 86 year old financial expert is credited with breaking the Bank of England in 1992, and saw his hedge fund grow from 1969 to 2011 to provide him with a fortune estimated by Forbes to have reached more than $24 billion.
The success Soros has achieved has allowed him to become an expert on the political situation in the world and a dedicated follower of the problems facing the European Union. I recently read a Project Syndicate article by Soros that brought together his skills as a political commentator and economic expert in providing a well judged analysis of the Russian bombing campaign in Syria. Like many I have been left confused by the continued bombing of civilian targets in Syria by Russian planes, which has created a refugee crisis spreading across Europe.
The case argued by Forbes billionaire George Soros in the article sets out his view that Russia did not have a dedicated plan upon entering the conflict in Syria, but was driven by concerns over its own economic future. Russian leader Vladimir Putin now sees his own future as being tied to that of the European Union, particularly after Russian aggression in Ukraine led to economic sanctions creating more problems for his leadership. A number of factors will combine towards the end of 2016 and into 2017 that should cause an economic collapse in Russia.
My own views echo those of George Soros in revealing the role the collapse of the European Union would play in preserving the leadership of Putin when economic problems finally strike Russia in the near future. The Russian leader has seized upon the refugee crisis in Syria and Europe as a perfect storm allowing him the opportunity to rescue his Presidency by collapsing the European community. Greek debt problems and Russian aggression against Ukraine have already placed Europe under the threat of collapse, but I agree with both Angela Merkel and George Soros that the refugee crisis is the greatest threat to the community continuing. By continuing to back the bombing by Putin’s Russia world leaders are pushing Europe to the brink of collapse and quickening a global economic meltdown to match that of 2008.