Soros gives $100 million to counter effects of recession in central and Eastern Europe

George Soros is to give $100 million to support organizations working with the poor in central and eastern Europe and help them counter the impact of the economic crisis. In an interview with the Financial Times in which he announced the gift, he urged the European Union to boost its aid for the region to finance increased welfare spending and tackle rising political extremism. ‘The political risk is very severe and the rise of the chauvinistic, xenophobic far right is a disturbing development,’ he said.