Posts in Category: World Economics

Russian Bombing Should Concern Europe States George Soros

The continued Russian bombing campaign in Syria has caused myself no small measure of concern, a view I have discovered is shared by hedge fund manager George Soros. The legendary hedge fund manager credited with devaluing the British Pound in 1992 has written an article detailing his views on why Russian President Vladimir Putin should not be trusted as an ally of western democracy. The article for Project Syndicate explains the economic pressure Russia is now facing, and goes on to detail the collapse of the European Union would be of great economic benefit to the Russian nation.
George Soros is a legendary figure amongst financial experts for the Forbes estimated $24 billion fortune he has built over the course of a hedge fund career lasting over 40 years. Over the course of his career the hedge fund manager saw a consistent rise in value for his hedge fund averaging over 20 percent each year. Despite his vast wealth, George Soros has been a powerful figure in U.S. politics over the course of the 21st century for his role in electing Democratic Presidents.

I was unaware of many of the economic problems Russia is facing in the coming years, but George Soros makes a strong case for Russia now looking to force the destruction of the European Union through the ongoing refugee crisis. Soros expresses a view on Forbes I share that Vladimir Putin is not a long term strategist, but is now looking to the short term for a way out of the financial mess his country finds itself in. The refugee crisis has been worsened by the prolonged bombing of civilian targets in Syria, which Putin now sees as placing immense pressure upon the European Union and places its entire future under threat.

In my view the article by Soros is correct in offering criticism of German Chancellor Angela Merkel for the weak leadership she has shown in the current situation affecting Europe. Vladimir Putin has been welcomed for his support of the war against ISIS by leaders across Europe and the U.S., but his role has now been questioned by Soros for the real reasons he continues the fight. Lowering oil prices around the world are combining with economic sanctions introduced after the invasion of Ukraine will damage the Putin image within Russia. The strength of Russia is largely built upon the powerful image Putin has created around the world, which would be damaged beyond repair if a recession were to strike the country.