George Soros has predicted the bankruptcy of Russia in 2017


“Putin’s regime facing bankruptcy in 2017, when there will come term of payment of a significant portion of foreign loans,” warned billionaire George Soros in a column published by project Project-syndicate.org. According to the financier, the popularity of the President of Russia Vladimir Putin based on a “contract with society”, according to which incumbent President must ensure financial stability and steady (albeit slow) growth in standard of living.

“Because of Western sanctions, coupled with a sharp decline in oil prices, the Russian authorities not able to keep neither of these promises. Russia’s budget deficit is 7% of GDP and the government will have to reduce it to 3% to inflation is not out of control. These and other developments will have negative consequences for living standards and the views of voters ahead of the parliamentary elections in autumn”, – stated in the column of Soros,

According to Soros, to help Putin to stay in power would collapse the European Union, the decay of which would free Russia from at least part of the imposed sanctions. “Moreover, Putin will be able to receive significant economic benefits from the division of Europe and to take advantage of connections with carefully nurture them anti–European parties,” – said Soros.

It is the desire to push the EU to collapse, according to the billionaire, explained the current policy of Russia in Syria, military action in which increase the flow of refugees to Europe. Soros believes that the invasion of migrants could destroy the EU, who is forced now to deal with five or six crises simultaneously, and Putin, as “a tactical genius”, could not help but take the opportunity to accelerate the collapse of the European Union.

The current leaders of the EU countries, according to Soros, are committing a “terrible mistake”, considering Putin a potential ally in the fight against “Islamic state” (ISIS, the organization banned in Russia). Coming from the ISIS threat exaggerated Soros believes, while he calls Russia a rival of the EU in the “race to the bottom”.

“Putin’s Russia and the EU are involved in a race against time: the question is who will crash first… the threat posed by Putin’s Russia is hard to fight. The failure to recognize the threat will make the task even more difficult,” writes Soros.

According to the Central Bank, in January-September, 2017 Russia will have to pay on the foreign debt is slightly less than $60 billion.

In November 2015, the state office of public Prosecutor of the Russian Federation recognized unwanted established by the Soros funds “the open society” and “Promotion”. In the message of the Prosecutor General noted that the activities of the organizations “threatens the foundations of the constitutional system of the Russian Federation and state security”.

Forbes magazine experts evaluate the state of Soros in $24.9 billion In recent years, the billionaire has actively criticized the actions of Russia, and also EU policy. In particular, he advised German Chancellor Angela Merkel and French President Francois Hollande “to learn from Putin.” In the fall of 2015, Soros stated that one of the causes of the migration crisis was that the EU member States “selfishly focused on its own interests.”

Soros also said that the instigator of a Third world war could be China, which is also threatened with collapse. According to Soros, while China will not be able to reorient the economy to meet domestic demand instead of exports, there is a “probability” that its rulers will start an external conflict to prevent the collapse of the country and to stay in power.

In the beginning of 2016 Soros warned of an imminent “hard landing” of China’s economy, which will lead to falling of quotations in world stock markets and global deflationary pressures have increased.