The End of the EU

Billionaire philanthropist George Soros says coronavirus could bring about the end of the EU

Soros expressed his doubts about the EU's survival as it is an 'incomplete union'
He said 'wheels of justice move slowly' while threats such as Covid-19 move 'fast'
He said Germany's ruling on ECB last week could 'destroy EU as an institution'

By Sophie Tanno For Mailonline


In an interview with the Independent, Soros said: 'I am particularly concerned about the survival of the EU because it is an incomplete union.'

According to Soros, this makes Europe 'more vulnerable' than the US 'not just because it is an incomplete union but also because it is based on the rule of law.'

He continued: 'And the wheels of justice move very slowly, while threats such as the Covid-19 virus move very fast. That creates a particular problem for the European Union.'

Soros went on to explain why he was taking Germany's bombshell ruling on the European Central Bank 'very seriously'.

The German Constitutional Court last week gave the ECB three months to explain the proportionality of its bond purchases or risk losing Germany’s Bundesbank — one of 19 national central banks that are members of the ECB — as a participant. It also called on the German parliament and government to challenge the ECB on the matter.

Soros believes the move could 'destroy the European Union as an institution based on the rule of law' because it was 'delivered by the German constitutional court, which is the most highly respected institution in Germany.'

When questioned on whether the coronavirus pandemic could change the face of capitalism, the billionaire conceded that everything is 'up for grabs' although it is impossible to predict 'how capitalism will evolve'.

Published: 15:22 EDT, 11 May 2020 | Updated: 16:35 EDT, 11 May 2020
https://www.dailymail.co.uk/news/article-8308533/Billionaire-philanthropist-George-Soros-says-coronavirus-bring-end-EU.html

Germany’s shock court ruling against the ECB challenges the stability of the euro zone
Published Tue, May 12 20203:27 AM EDT
https://www.cnbc.com/2020/05/12/what-the-german-court-decision-against-the-ecb-means-for-the-euro.html


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