Hedge fund billionaire George Soros has been paying attention to Europe for quite a while. The philanthropist founded the Open Society Foundation in 1979 which promotes progressive and democratic ideals across the globe, especially Europe. This puts George Soros in a unique position to understand the seriousness of the Syrian refugee crisis and its effect on the European Union. Soros, along with German Chancellor Angela Merkel, believe the EU is on the brink of collapse.
Growing Fear And Tension
The European Union established what’s known as the Shengen Area. Once a citizen enters the area they are free to move about with very little restriction from country to country. This free flow of people and money is essential to the European Union’s economic engine, which is now being threatened by fear and an unsustainable flow of migrants.
Finnish Finance Minister, Alex Stubb, is quick to agree with George Soros in saying that immigrants are not themselves a source of terrorism. Terrorism grows from radicalization which is a completely separate problem. But the citizens of the European Union fear the migrants from Syria nonetheless, especially in the wake of the tragic attacks in Paris.
German Chancellor Angela Merkel, who Soros has criticized in the past for right-wing austerity measures, has stepped toward the left and established an open-door policy for Syrian immigrants in Germany. Soros welcomes the change in policy, but the German people and other countries in the European Union do not agree. Some fear the open borders created by the Shengen agreement will allow possible terrorists and “freeloading” immigrants into their countries. The urge to close borders may be too great and we may see the collapse of the European Union altogether.
A Possible Solution
But Soros sees a way for immigrants to come safely into Europe while benefiting the economy of the European Union as a whole. He believes the people of Europe, specifically Germany, need to back their Chancellor and her newfound leadership skills. As the most powerful country in Europe, it is Germany’s responsibility to lead the fight against fear and to establish a European Union wide immigration policy. The immigration policy, according to Soros, should start outside of the European Union where vetting can take place. This strong stance on immigration can allow for a humane and sustainable flow of refugees.
Soros’s Harrowing Past
George Soros is most known for his wealth and his daring trades on financial markets. He is known as the man who broke the Bank of England, profiting $1 billion in a day betting against the British pound during a financial crisis in the 1990s. But what most people don’t know about George Soros is that he was also a refugee from Nazi Germany. His hard work brought him success and he believes the people of the European Union should not fear refugees.