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00:00APART AND THAT'S THE TIME WHEN YOU NEED TO TOOLS TO HAVE A MAJOR INITIATIVE. A MARSHALL PLAN. IT IS ABSOLUTELY APPROPRIATE AND IT IS AMAZING THAT IT COMES FROM ONE OF THE PROPONENTS OF THE BUNDESBANK ORTHODOXY. I HAVE BEEN IN FAVOR OF IT ALL ALONG. I WILL PROPOSE THE MARSHALL PLAN FOR EASTERN EUROPE MORE THAN 25 YEARS AGO. IN 1989, AND POTS THEM WHEN I SAID THIS SHOULD BE A MARSHALL PLAN BEFORE EASTERN EUROPE, INCLUDING RUSSIA AND IT SHOULD BE FINANCED BY THE EUROPEANS FOR A CHANGE. LED BY THATCHER'S REPRESENTATIVE WHO STARTED LAUGHING. MY PROPOSAL WAS GREETED WITH AMUSEMENT. THIS PROPOSAL SHOULD NOT BE TREATED WITH MILD AMUSEMENT. IT SHOULD BE TAKEN VERY SERIOUSLY. IT IS GOING TO HAVE A VERY DIFFICULT TIME PASSING BECAUSE THERE IS A LOT OF DISSENSION NOW. IT'S PART OF THE DISINTEGRATION. THESE PUBLIC INTO ZS DECK SUPPORT -- I THINK MOST PEOPLE KNOW SOMETHING HAS GONE TERRIBLY WRONG AND IT HAS TO BE PUT RIGHT. FRANCINE: OUR INVESTORS UNDERESTIMATING THE RISKS THE EUROPEAN UNION IS FACING? IS THERE A DANGER OF RAKE UP? LAST YEAR, WE WERE WORRIED ABOUT GREECE. WHAT SHOULD WE WORRY ABOUT THIS YEAR? GEORGE: GREECE IS STILL A PROBLEM. IT'S THE ONE PROBLEM THAT HAS NO SOLUTION BECAUSE IT HAS BEEN SO MESSED UP THAT YOU CAN ONLY MUDDLE ALONG. THERE IS NO SOLUTION AND THE PROBLEM IS NOW COMING TO THE BOILING POINT AGAIN. BUT IT'S NOT A MAJOR PROBLEM IN THE SCHEME OF THINGS. IT IS A BURDEN, BUT COMPARED TO THE OTHER ISSUES, IT IS NOT THAT SIGNIFICANT. FRANCINE: WE HAD MARIO DRAGHI TODAY SAYING HE IS READY TO ACT AND HAS PROMISED MORE.

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Soros: The EU Is Falling Apart, Greece Is Still a Problem

Billionaire investor George Soros comments on the state of the European Union during an interview with Bloomberg's Francine Lacqua at the World Economic Forum in Davos. (Source: Bloomberg)

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