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The European Union could soon be a thing of the past. Xenophobia is
rampant and commonly reflected in elections across the continent.
Great Britain may hold a referendum on whether to abandon the union
altogether. Spurred by anti-EU sentiments due to the euro crisis,
national interests conflict with a shared vision for the future of
Europe. Is it too late to preserve the union that generated
unprecedented peace for more than half a century? This is no mere
academic question with limited importance for America and the rest
of the world. In the past decade, the EU has declined from a
unified global power to a fractious confederation of states with
staggering unemployment resentfully seeking relief from a reluctant
Germany. If the EU collapses and the former member states are
transformed again from partners into rivals, the US and the world
will confront the serious economic and political consequences that
follow. In a series of revealing interviews conducted by Dr. Gregor
Peter Schmitz, George Soros -- a man of vast European experience
whose personal past informs his present concerns -- offers
trenchant commentary and concise, prescriptive advice: The euro
crisis was not an inevitable consequence of integration, but a
result of avoidable mistakes in politics, economics, and finance;
and excessive faith in the self-regulating financial markets that
Soros calls market fundamentalism inspired flawed institutional
structures that call out for reform. Despite the considerable
perils of this period, George Soros maintains his faith in the
European Union as a model of open society. This book is a testament
to his vision for a peaceful and productive Europe.
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