“Europe needs to get its act together, ” legendary investor George Soros told CNBC, on many issues, particularly when it comes to the conflict between Russia and the Ukraine. Currently, Europe has imposed sanctions against Russia, but Soros indicates the continent needs to do more, including being more pro-active in aiding the Ukraine fight for itself. “The Ukraine wants to be part of Europe, and effectively an attack on the Ukraine is an attack on the European Union.” In fact, Soros said Russia is threatening Europe’s very existence.
Soros thinks, for starters, a fiscal stimulus is needed across Europe and particularly in the Ukraine. “Leaving it only to monetary policy is one-sided. You need fiscal stimulus as well. You need a balance.” Europe is currently suffering from deflation, and without a solution to the issue between Russia and the Ukraine, Soros implies it could get worse.
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