George Soros Advises European Union to be Cautious in Addressing Refugees Problems

The self-established billionaire George Soros has cautioned the European Union of an impending danger of its collapse if it fails to allow massive injection of cash to address the refugee crisis. Soros ascertained that a humanitarian calamity was likely to occur in Greece through an essay published in New York Review of Books. In the publication, George Soros pressed on the need to resettle the legitimate refugees in Europe. According to Soros, the EU leaders should seek massive funding instead of relying on the limited funds it accumulates on a yearly basis. Massive spending is a strategy the EU should employ to address the refugee menace effectively.

Refugee resettlement plan

Millions of refugees escaped from Africa and the Middle East on, and relocated to Europe in 2015. Most of them were lured to the European nations following promises of a better life. Currently, a refugee policy has been implemented, and it will address the needs of legitimate refugees. Refugees who will relocate to Greece Illegally will be returned to Turkey in case their asylum application is fake on The EU will proceed to transfer one Syrian refugee residing in Turkish camps in place of every individual sent back.

According to the essay written by George Soros, Europe can handle between 300,000 and 500,000 refugees each year comfortably. However, he proceeded to assure genuine asylum seekers that their issues would also be addressed. The EU will require approximately $34 billion each year to implement the refugee resettlement program effectively.

Therefore, he strongly advises the EU to ensure it has close to $34 billion before proceeding with the implementation process. Soros called for a revision of Multiannual Financial Framework of the European Commissions and adjustment of the VAT contributions. However, urgent separate funding will be required to deal with refugee menace.

Important facts about George Soros

Apart from being the founder of highly successful and lucrative Soros Fund Management, the Hungary-born George Soros is also the most active philanthropist in the world. He witnessed the Nazi occupation of his home country before fleeing to England. His support for capitalisms and political views were majorly influenced by his childhood experiences. Academic wise, Soros is well established he is an alumnus of London School of Economics. Immediately after graduation, Soros relocated to New York City and started a career in finance. Being a talented investor, Soros decided to leave employment and concentrate on his businesses.

Investment style and philanthropic activities

George Soros mastered the art of translating economic trends and identifying perfect investment opportunities for securities and bonds. He is remembered for making successful bets on the financial markets direction. He described the financial market as chaotic. Soros started to participate actively in humanitarian activities in 1979 and proceeded to establish an Open Society Foundations back in 1984. The foundation specializes in funding the global project in the field of public health, judiciary system, education, independent media, and business development. Personally, Soros played a significant role in transforming the lives of needy students by helping them to pursue high education. This articles was originally posted via CNBC;

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