Billionaire financier George Soros has warned that the European Union is on the “verge of collapse” over the migrant crisis and is in “danger of kicking the ball further up the hill” in its management of the issue which has seen more than a million migrants and refugees arrive in the region in 2015. In an interview with the New York Review of Books, Soros added that the German Chancellor Angela Merkel is key to solving the crisis.

Merkel led Europe’s response to the migrant crisis, opening Germany to the refugees that had travelled from the Middle East, in particular Syria, to try and find a new home in Europe. The decision by the German leader marked a sea-change in her policy. In the interview, Soros said he welcomed Merkel’s move. “There is plenty to be nervous about,” the financier said. FULL REPORT