Soros predicts: Russia will go bankrupt in 2017

Putin's regime faces bankruptcy in 2017, when a significant portion of foreign debts is due, warns billionaire George Soros, reports the Patria News Agency.

According to his assessment, the popularity of the current Russian president Vladimir Putin is based on a "social contract", according to which the current head of state must ensure financial stability and permanent (even if slow) growth of living standards, reports RBTH.

Due to Western sanctions combined with falling oil prices, the Russian authorities will not be able to keep their promises, so the American investor predicts that the aforementioned and some other events will negatively affect the standard of living and the attitude of voters ahead of the autumn parliamentary elections.

Soros believes that the collapse of the European Union could help Putin stay in power, as the disintegration of the EU would mean a partial lifting of sanctions for Russia. For Putin, the division of Europe would also be economically beneficial, and he would also exploit the anti-European parties that he carefully supports.

Soros also believes that the increased influx of migrants can destroy the EU, which is currently dealing with five or six crises simultaneously, and Putin, as a "brilliant tactician", could not fail to take advantage of the opportunity to accelerate the disintegration of the EU, writes Index.