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'Dysfunctional EU has plunged into an existential crisis' George Soros warns ...

George SorosGETTYGeorge Soros called the EU 'dysfunctional'

The billionaire said the priority must be to “save the European Union in order to radically reinvent it”. 

He added: “The first objective, saving the European Union, has to take precedence because it is in existential danger. But we wouldn’t forget about the second objective either.

“The reinvention would have to revive the support that the European Union used to enjoy. We would do it by reviewing the past and explaining what went wrong and how it could be put right.”

Mr Soros, speaking at the Brussels Economic Forum said the crisis was being brought about by growing euroscepticism and “hostile powers”.

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The EU is surrounded by hostile powers

George Soros

He said: “Externally, the EU is surrounded by hostile powers – Putin’s Russia, Erdogan’s Turkey, Sisi’s Egypt and the America that would like to create if he could, but can’t.”

He added major reforms were urgently needed to protect the bloc.

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