Soros: Russia is the resurgent power

7 years ago - Published in Finance, Fundamental Analysis

George Soros has lamented that the European Union is on the verge of collapse while Russia is becoming “a resurgent nationalist power.”
Hungarian-American tycoon George Soros, who runs the $26 billion Soros Fund Management and chairs the global board of the Open Society Foundations (OSF), made the remarks while speaking to the Financial Times. 

Soros claimed nationalism has now become the “dominant ideology in the world,” taking aim at the 28-member European Union. “It’s the EU that’s the institution that’s on the verge of a breakdown,” he asserted. “And Russia is now the resurgent power, based on nationalism.”

In Russia, Soros’ organizations were banned in 2015 by authorities citing security threats they posed to the country. 

In his native Hungary, Soros is thought to be plotting against the government of hardline rightwing politician Viktor Orban. Prime Minister Orban believes Soros has been creating a low-key network to undermine his cabinet and influence EU policies in Brussels.

In October 2017, the Hungarian government launched a "national consultation" about Soros, accusing him of wanting to dismantle border fences and open borders to refugees.

Hungary’s leader has consistently accused Soros of fueling the refugee crisis in Europe and eroding European cultural identity. In October last year, the Prime Minister said more than 200 members of the European Parliament are listed by the billionaire’s “empire” as “friends to the network.”

Orban, who will seek a fourth term as Hungary’s Prime Minister next year, said he has directed the country’s secret services to investigate the “Soros Empire” and “expose it to the public.”

Earlier that year, Soros labelled Hungary a “Mafia state,” prompting Orban to fire back: “The only network which operates in mafia ways, which is not transparent in Hungary is the Soros network.”

The OSF controls billions of dollars, much from Soros' personal fortune, and works in 140 countries worldwide making grants across various developmental projects. The Society works to "build vibrant and tolerant democracies," its website says, and has given away nearly $14 billion since it was founded in 1979. Nearly 20 semi-autonomous boards decide how the money is spent.