Soros Warns EU Could Break Apart Due To Pandemic

Reuters reports:

Billionaire financier George Soros said the European Union could break apart in the wake of the new coronavirus pandemic unless the block issued perpetual bonds to help weak members such as Italy.

Soros, 89, said the damage to the euro zone economy from the new coronavirus would last “longer than most people think”, adding that the rapid evolution of the virus meant that a reliable vaccine would be hard to develop.

The hedge-fund veteran and chairman of Soros Fund Management LLC said perpetual bonds, used by the British to finance wars against Napoleon, would allow the European Union – itself created out of the ashes of World War Two – to survive.