Soros tells Europe: Imposing sanctions on Russia not the best way forward.

"It's very important to respond and respond the right way which is not necessarily to impose sanctions on Russia, but to actually help Ukraine financially and also technical assistance, something like a European Marshall Plan for Ukraine, that would be the right response," Soros said in an interview to Bloomberg.

Under the post-war Marshall Plan the US provided help to Western Europe worth billions of dollars – in the form of food, fuel, machinery and investment.

Europe may face 25 years of stagnation if government officials don’t make an effort to strengthen and further integrate the currency union, Soros warned. Such a prolonged economic slowdown may prove unsustainable for Europe, he added.

The financial crisis in Europe which began in 2010 has almost ended. However the region is still facing a political crisis, which has split the area into country creditors and country debtors, Soros said.

“You have to go further with the integration. You have to solve the banking problem, because Europe is lagging behind the rest of the world in sorting out its banks.”

At the same time banks are oriented to passing the stress tests, instead of stimulating the economy by capital injections in business, Soros believes.

Read More: rt.com/business/soros-europe-russia-sanctions-514/