Soros: EU In Existential Danger, Needs 'New Rules'

Flickr/ Heinrich-Böll-Stiftung

The European Union is in "existential danger" and must go through a radical reinvention process in order to save itself, George Soros has told an economic forum in Brussels.

Soros said on June 1 that a combination of external and internal threats have brought the 28-member bloc to a "tipping point" between further integration or disintegration.

"Externally, the EU is surrounded by hostile powers — [President Vladimir] Putin's Russia, [President Recep Tayyip] Erdogan's Turkey, [President Abdel Fattah el]-Sisi's Egypt and the America that [U.S. President Donald] Trump would like to create but can't," Soros told the EU Brussels Economic Forum.

At the same time, Soros said, the EU has been governed internally by "outdated treaties ever since the financial crisis of 2008," which have lost relevance.

The bloc is clogged by...