George Soros Reveals His Plan For Dealing With Europe’s Ongoing Refugee Crisis
The billionaire hedge fund expert George Soros has been vocal in his criticism of the European Union and its handling of the refugee crisis for a number of months, but has responded to the latest plan unveiled by the EU and Turkey by revealing his own ideas on how to handle the problem. In an article published by The New York Review Of Books George Soros explained how the EU had the ability to tackle the humanitarian issues the refugee crisis has caused in a more timely and efficient way than the latest EU-Turkey plan allows for.
George Soros has a personal interest in the handling of Europe’s refugee crisis he has blamed on the continued bombing of Syria by the Russian military on http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says; Soros was born in Hungary and found himself a refugee after surviving the Holocaust of World War II. The goodwill George Soros received after arriving in London as a refugee allowed him to complete his studies before continuing his refugee journey by arriving in New York to start his career as a hedge fund manager.
For over a quarter of a century George Soros found himself at the head of one of the world’s most successful hedge funds that achieved an average of 20 percent growth throughout his time as its leader. Soros hit the headlines in the 1990s when his hedge fund was named as achieving such success that the British government was forced to devalue the Pound Sterling.
In his latest article, George Soros dips into his experience as a global finance expert in his bid to explain a better way of dealing with the European refugee crisis. Soros believes the plan forced upon EU member on http://www.nytimes.com/topic/person/george-soros states by the Turkish government and German Chancellor Angela Merkel is not truly European and could be seen as stifling the human rights of refugees who have already arrived in European countries like Greece. The deal forces quota regulations on member states regarding the number of refugees they must accept and has re imagined Greece as simply a stopping point for refugees before they are dispersed forcibly across the continent and to Turkey.
George Soros believes Greece is not equipped with the funds required to care for the refugees who have already arrived in the country and those who continue to make the dangerous crossing of its borders. Soros puts forward a number of financial options for dealing with the crisis, including a continent wide tax he believes member states would not agree to; instead, George Soros believes the use of the AAA rating the European union maintains with credit agencies could provide funding from a loan totaling less than one quarter of one percent of the annual GDP of the continent. In the view of the legendary hedge fund manager this would allow the European Union the chance to create a basis on which to deal with refugees entering the continent in the future.