In 2008, George Soros, billionaire, activist, businessman, best-selling author, and philanthropist of Hungarian origin anticipated a financial crisis in European countries that would cause the European Union to eventually collapse. Today, we watch as his prediction becomes a reality. Since 2008, there have been many causes of political and financial instability in European countries such as the decline of the value of the Euro, the financial crisis in Greece, Britain’s oppression as a member of the union, and conflicts between two nonmembers, Russia and Ukraine.
Soros believed that when European Union nations become divided or slow to offer aid to member or non-member European countries, it will eventually lose its power financially and politically. In his essay, “Nations Work Best When They Work Together, in Europe and Beyond, Soros discusses Britain’s desire to leave the European Union urging the country not to leave the union because their contribution to the union strengthens their country in terms of stability and security as well as the union itself.
After years of political and financial hardships, the European Union is on the verge of collapse. This is the prediction that Soros made based on his years working with the pro-democracy charity in Europe and its many networks. Soros founded this charity in 1976 to protect human rights, freedom to pursue a better quality of life, and to help citizens of over 70 countries gain access to better health care and education.
The euro crisis is caused, among other reasons, by financial instability in European countries making up the European Union. The market of each country making up the European Union has a direct effect on the well-being of the Euro because, as Soros wrote in his 2015 article, “Ukraine & Europe: What Should Be Done?”, the strength of the Euro depends on the strength of the European Union, which depends on the financial contributions of its members.George Soros, an advocate for and supporter of the Ukraine, explains that, while not a member of the European Union, if given enough support by the European Union, the Ukraine would, in turn, help strengthen the union.
Fortune.com quoted Soros says he sees the growth potential of the reformed Ukraine and how damaging Russia’s aggression against Ukraine is to both countries as well as the European Union. He wanted to resolve this in two ways. One, by calling to Europe to help stop Russin aggression against the Ukraine and two, by increasing financial support to the Ukraine to help it develop to its full potential. In the same 2015 article by Jennifer Ablan called, Russia Bans George Soros Foundation as State Security ‘Threat’, Soros explains that Ukraine has the “spirit of solidarity” that the European Union needs to once again become stable financially and politically.
Soros’ predictions of a collapse of the European Union as well as damage to the security, stability, and financial well-being of European countries is coming true. Russian aggression against the Ukraine, the decline of the value of the euro, and Britain’s insistence on leaving the European union continue along with George Soros’ efforts to get all fronts to reconsider their actions.