So far the political consequences of the European Union’s economic catastrophe have been limited to Greece and Italy. The anger at the terms of the European Union bailouts has led to political upheaval and extremist behavior. The Greek Government is about to plunge into another fast cash loans by comparable fees according to George Soros, the economic genius, and hedge fund investor. Soros thinks the radical Prime Minister of Greece, Alexis Tsipras, is dealing with the daunting task of reforming the country’s unaffordable pensions plan. George Soros told a German magazine that the fallout from the Eurozone could have a political and economic impact on countries around the world.
Portugal is now under Socialist control. That minority government is propped up by a movement called the Left Bloc that promotes civil disobedience against austerity. Spain is following in the footsteps of neighbor Portugal, according to Soros. Mr. Soros posted the comments he made during the magazine interview about student loan lenders on his website. Soros believes that the impending clashes on economic policy will be exacerbated by the migration debacle that is far from over. Even though a cease-fire has been put in place in Syria, the fighting will continue, and more refugees will try to find new homes in Europe.
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Soros said that many Europeans get a installment loan from multiple lenders and believe the migration crisis is tearing apart the social fabric of Europe. Soros thinks the European Union has done more to hurt the social fabric of Europe than the migration crisis. Many Europeans believe that the EU is acting as a vehicle for the destruction of national identities and the heritage of people that have been part of a specific culture for centuries. The nationalists say the obsession to continue to open borders and promote cultural diversity is disintegrating the backbone of Europe which is independent state allegiance. The battle of words will continue in Europe. But that battle now includes the asylum-seekers as well. The threat of terrorists entering Europe under the guise of refugees is stronger than ever before. The attacks in Cologne, Paris and Istanbul prove that Europe is a terrorist target, and the militants will use any means to cause death and destruction.
At the end of 2015, more than a million migrants reached Europe by traveling across the eastern Mediterranean. That number will increase three-fold in 2016, according to some estimates, and there could be hundreds if not thousands in that migrant mix that have terroristic tendencies. That threat has created an enormous amount of insecurity in the European Union. There is no plan in place other than setting up checkpoints on borders or closing borders completely to stop the refugee flow. Soros thinks that is unacceptable. The EU has accepted the responsibility to lead, and closing the borders is not leading.