With markets in turmoil, Soros says austerity has plunged union into existential crisis

The eurozone risks lurching towards another major financial crisis triggered by austerity and populist political parties intent on blowing apart the EU, the billionaire investor George Soros has warned.

Sounding the alarm as financial markets fell into turmoil on Tuesday amid a deepening political crisis in Italy, Soros said the EU had lost its way since the 2008 banking crash and required radical transformation in order to survive.

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