The EU has got its priorities wrong, billionaire investor George Soros said, as he called on Europe to provide financial assistance to Ukraine. It was a "terrible, terrible mistake" not to, he claimed, and urged Europe to "wake up".

The veteran financier, who has warned against allowing Russia to divide and dominate, said: "What Europe needs to do is to support Ukraine. For that it needs to do two things. "The first is to make a political decision that it's important to help Ukraine and Europe will do whatever it takes to help Ukraine, subject to not violating the ceasefire and not getting involved in a direct military confirmation.

“Secondly, Europe has to establish a source of funds. It doesn’t mean a blank cheque.” Asked on the BBC Radio 4 Today programme if the EU had got its priorities wrong, he replied: “Yes, that’s exactly what I’m saying. “This is a terrible, terrible mistake on the part of Europe. That is why Europe needs to wake up. “It is, in fact, much more serious than people are aware of, there is much at stake in the survival of the EU itself.”

Asked what the original authors of the EU would have made of the current situation in Europe, he said: “They would be as sad as I am. “I’m a firm believer in the EU as it was originally meant to be. I considered it an embodiment of the open society idea to which my foundations are devoted.”

PA