In recent news, George Soros, a prominent billionaire has made headlines through his warnings of how the refugee crisis is now putting the European Union into a financial crisis. George Soros argues that unless there is a massive cash injection, the European Union will soon collapse. In a new essay that was written for the New York Review of Books, Mr. George Soros claims that refugees who are 100 percent legitimate much actually be offered a chance to obtain asylum and to reach their destination in Europe. Mr. Soros also states that in order for the European Union not to collapse, he believes that the international organization on http://www.marketwatch.com/story/george-soros-heres-my-plan-to-solve-the-asylum-chaos-2015-09-29 must begin surging money. This would help the European Union respond more effectively to the current crisis.
George Soros is a man who recognizes the reasons for the crisis. Many immigrants who come from the Middle East and Africa look to Europe for the strong institutions as a promise to a better life. In 2015 alone, millions of immigrants came from the Middle East and from Africa in order to escape the terror behind them. George Soros specifically states that the number of refugees that Europe can absorb each year ranges from 300,000 to 500,000. This number cannot go past one million.
As a sympathizer to this crisis, Mr. Soros believes that anyone who is truly in grave danger on http://www.nybooks.com/articles/2016/02/11/europe-verge-collapse-interview/ from living where they lived, should be able to seek asylum. Any refugee who came from a suffering background should not be turned away. As a result, Mr. Soros also proposes that an estimated $34 billion is needed for the European Union to officially carryout this plan. Though this may seem like a lot, Mr. Soros argues that a failure to provide this amount of money would be even more detrimental to the European Union. Mr. Soros proposes that this amount of money will come from each of the 26 nation-states that are recognized within the European Union.
For the short-term, Mr. Soros believes that a surge in funding is needed. In the long-run, Mr. Soros argues that the European Union’s Multi-annual Financial Framework should be amended to include a budget for this surge. Soros specifically states that the money for this surge should come from the European Financial Stabilization Mechanism as well as the Balance of Payments Assistance Facility. This currently contains an estimated amount of $68 billion which is not being put to use as of currently.
George Soros is a highly educated individual who is not only a prominent and successful investor, but is also a political activist. Mr. Soros has been politically active around the world ever since the 1970s. His political activism began when he began funding the education of young and black individuals from South Africa to attend the University of Cape Town in the apartheid. George Soros is a passionate individual who has been speaking with an open and passionate mind for over 40 years. With this new prediction of the European Union, he has gained the attention of many European Union members.