The European Union has done wonders for Europe’s economy and global economic system. However, this groundbreaking organization might become defunct very soon. There are currently problems with this organization, due to economic problems in Europe. There have been a series of events that have strained the EU. Greece’s economy has struggled, and this is causing problems with the economy of the Union as a whole. The Ukrainian economy also is floundering. This is putting a further strain on everything. England has an economy that is doing very well, but they may not be part of the EU any longer. Also, there’s a war that’s taking place in Syria. This war is causing massive droves of individuals to have to flee the country. All of these people are looking for a safe place to land, and that safe place is often in Europe. Due to this, Europe has seen an unprecedented surge of immigrants from Syria. This surge of people flooding in is beyond what Europe is able to handle economically. George Soros has recently been speaking about what he thinks is going to happen. It is not a good forecast for the stability of the EU. He feels strongly that the European Union could easily not survive these crises. The European Union simply has no experience in dealing with multiple crises of this severity at the same time.
Angela Merkel first began working on legislation to get the Syrian immigrants into the European Union. She holds an extremely lofty position as the Chancellor of Germany. She has a lot of influence in the politics of the European Union. Her lofty position enabled her to have a large impact on the political process of changing the laws to bring in the immigrants. George Soros and Angela Merkel both believe that she has to get legislation through to slow the flow of refugees. George Soros and Angela Merkel both are in agreement that this could save the EU from the fate Soros has forecasted.
If the collapse does happen, George Soros believes this could have severely negative impacts on the global economy. He believes that it would undermine trade between European countries. Of course, this would have disastrous impacts. Furthermore, it is likely that these disastrous impacts would spread even beyond Europe. This combined with the struggles the EU is already dealing with could cause very severe economic turmoil in Europe.