George Soros, the billionaire financier who made headlines in 1992 on https://www.opensocietyfoundations.org/people/george-soros after betting against the British Pound, has warned of a possible European Union Collapse. If the country doesn’t accept a cash injection of epic proportions, George Soros believes the refugee crisis will put it in mortal danger of a collapse.
In an essay he wrote for the New York Review of Books, George Soros also pointed out the humanitarian catastrophe thats currently going on in Greece.
According to Soros, those seeking asylum have become very desperate. George Soros wrote that provisions must be put in place for legitimate refugees to be able to make it safely to their destination in Europe.
In order for the crisis to be effectively addressed on http://www.nybooks.com/articles/2016/02/11/europe-verge-collapse-interview/, there must be a steady stream of funding making its way into the country. Until EU leaders embrace this idea, things will not get any better.
With more than a million immigrants crossing the European border in 2015, the country is literally being pushed to the brink. Right now there is a deal in place that allows Greece to return illegal asylum seekers back to Turkish camps.
In return the European Union will resettle one refugee. In his essay George Soros said Europe is only able to handle up to 500,000 refugees per year.
Not only can European countries accommodate this number, but it also ensures those who genuinely need help get it.
The price tag to care for 500,000 refugees a year is $34 billion. Its a hefty price tag, but one that will ultimately end up saving the country hundreds of billions in the long run.
Keep in mind the refugee crisis is a real threat that could lead to the collapse of the schengen system. Bolstering the system now is the best way to prevent that from happening.
Soros suggests tapping into Europe’s long term spending plan to get access to the funds needed to get and keep the ball rolling. He believes there is no better time to utilize the triple A credit of the European Union.
About George Soros
George Soros is a very successful hedge fund manager who is currently worth just under $30 billion. He came to the United States after graduation from the London School of Economics.
Once in the United States he accumulated a large fortune through an international investment fund he founded.
Soros, at the tender age of 85, spends the bulk of his time managing his charity network Open Society Foundations. He started doing philanthropic work back in 1979 when he donated funds to black students who wanted to attend university in South Africa.
Today, the Open Society Foundations has operating centers in over 100 different countries.
Soros is also an author and has written over 12 books, articles and essays on various topics including politics and society.
To learn more about Soros visit www.GeorgeSoros.com.