11 February 2016

The Guardian/Soros: Putin is a bigger threat to Europe’s existence than Isis

The leaders of the US and the EU are making a grievous error in thinking that president Vladimir Putin’s Russia is a potential ally in the fight against Islamic State. The evidence contradicts them. Putin’s aim is to foster the EU’s disintegration, and the best way to do so is to flood Europe with Syrian refugees. [...]

It is hard to understand why US and EU leaders take Putin at his word rather than judging him by his behaviour. The only explanation I can find is that democratic politicians seek to reassure their publics by painting a more favourable picture than reality justifies. The fact is that Putin’s Russia and the EU are engaged in a race against time: the question is which one will collapse first.

The Putin regime faces bankruptcy in 2017, when a large part of its foreign debt matures, and political turmoil may erupt sooner than that. The president’s popularity, which remains high, rests on a social compact requiring the government to deliver financial stability and a slowly but steadily rising standard of living. Western sanctions, coupled with the sharp decline in the price of oil, will force the regime to fail on both counts.

Russia’s budget deficit is running at 7% of GDP, and the government will have to cut it to 3% in order to prevent inflation from spiralling out of control. Russia’s social security fund is running out of money and has to be merged with the government’s infrastructure fund in order to be replenished. These and other developments will have a negative effect on living standards and opinions of the electorate before the parliamentary elections this autumn.

The most effective way Putin’s regime can avoid collapse is by causing the EU to collapse sooner. An EU that is coming apart at the seams will not be able to maintain the sanctions it imposed on Russia following its incursion into Ukraine. On the contrary, Putin will be able to gain considerable economic benefits from dividing Europe and exploiting the connections with commercial interests and anti-European parties that he has carefully cultivated.

As matters stand, the EU is set to disintegrate. Ever since the financial crisis of 2008 and the subsequent rescue packages for Greece, the EU has learned how to muddle through one crisis after another. But today it is confronted by five or six crises at the same time, which may prove to be too much. As Merkel correctly foresaw, the migration crisis has the potential to destroy it. 

When a state or association of states is in mortal danger, it is better for its leaders to confront harsh reality than to ignore it. The race for survival pits the EU against Putin’s Russia. Isis poses a threat to both, but it should not be overestimated. Attacks mounted by jihadi terrorists, however terrifying, do not compare with the threat emanating from Russia. [...]

Full article on The Guardian

© The Guardian