Category Archives: Refugee Crisis

George Soros says European Union Needs to Borrow $125 Billion Immediately

George Soros recommends reestablishing the European Commission’s Multi annual Financial Framework to deal with the cost of the refugee crisis because of the amount of money that they can borrow on very attractive terms quickly, according to an article published on New York Review of Books. The alternative, George Soros says, is to pay out lots more money over many years while the problem continues to worsen. He also recommends this action because it only requires a political decision unlike other options that would require a new borrowing framework be created. George Soros believes that in order for the political leaders to take this bold move, they must be pushed in that direction by those supporting the refugees who are currently not letting political opinions know their opinions.

George was born in Hungary. He holds Hungarian and United States dual citizenship. In 1992, he short sold $10 billion on United States in stock on Black Wednesday during the United Kingdom currency crisis netting him over $1 billion. He is one of the 30 richest people alive with a net worth of $24.9 billion. This graduate of the London School of Economics is the founder of the Open Society Foundation working to protect and promote human rights around the globe.

George Soros says that the European Commission’s Multiannual Financial Framework could rely on the European Financial Stabilization Mechanism and the European Stability Mechanism to borrow $125 billion immediately. He believes the majority of this money should be given as grants to Jordan, Lebanon, Turkey, and Greece that are on the frontlines of the refugee crisis. He believes that the loans should then be repaid by levying special European Union-wide taxes on He says that the burden could further be shared by enacting a value added tax on gasoline or by enacting further taxes on people wanting to travel to a European country or on Visa applications.

He says that the alliance formed by German Chancellor Angela Merkel with Turkey is not a workable solution. The largest problem that George Soros sees with the asylum policy enacted in March 2016 is that the policy is extremely underfunded adding that the policy does not provide for a way for families to earn a living so that they can take care of their basic needs.

Secondly, it imposes countries take a certain number of refugees and gives refugees no choices in where they will ultimately live.

He says that a plan must be put in place to help these refugees understand that they will have a chance to succeed if they follow the organized plan. Refugees that are willing to go to any country will receive faster placement than those who choose which country they want to ultimately settle in long term.

George Soros Enlightens The European Union On How To Deal With The Asylum Crisis.

Since the billionaire George Soros made it in the business industry, he has been dedicating part of his time and funds to fighting against humans rights violations and also promoting human rights all over the world. He founded his Open Society foundation in light of promoting human rights and democratic leadership in all countries in the world. He has always stood against injustices by governments to its citizens and against other nations. His determination to promote a free society led to the ban of his two leading organizations in Russia. He was also declared an enemy of the Republic if Russia and its people by Vladimir Putin’s government. One thing that George Soros has been so determined to fight is the Russian inversion in Syria. NY reports on Syria is currently torn apart by an internal war, and Russia has allegedly been secretly launching attacks on Syrian citizens to create refugee crisis in Europe.

With the war in Syria not showing any signs of ending anytime in the near future, these Syrian refugees are seeking asylum in other European nations. A major problem that Europe currently faces is what to do with the refugees. Despite countries such as Germany having embraced refugees in their country, there are countries such as Poland and Hungary that have warned against refugees entering their countries. George Soros says that with the number of refugees increasing as each day passes, trouble for the union is not far away.

Forbes billionaire George Soros says that the European countries can easily take care of the refugee problem. According to the Hungarian-born billionaire, the European Union should start by addressing disunity in the union. He goes on to say that without a united front on this asylum seekers issue, the union will not pull through. After achieving unity, the union should draw new policies on asylum seeking in the continent. George Soros says that for this policies to work they have to be based on human rights. The union should also mind the thoughts of smaller economies like Poland over the impact of increased population to their economy. George Soros say that the European Union has to be extremely cautious as it formulates these policies so that it provides common ground for internal and external asylum seekers.

To add on this, George Soros says on marketwatch that the new policies that will be implemented should, at least, be able to cater for roughly 1,000,000 asylum seekers per year. This will make the continent flexible to future influxes on the number of asylum seekers trying to get to the continent. Furthermore bloomberg also published a report about the European nations should equally share the responsibility of hosting asylum seekers in the continent. Thus, no nation should not be left to carry the large burden of asylum seekers on its own. Smaller nations should also be assisted financially to take care of refugees.