Billionaire and philanthropist George Soros is at it again. According to a report by the CNBC, George has announced that the European Union on http://www.nytimes.com/topic/person/george-soros is in imminent danger of a collapse. In fact, he warns that if action is not taken urgently, the end of the EU is certain. The European Union needs massive amounts of cash injections to fix the problem.
The refugee crisis is one of the reasons that make George Soros announce such predictions. In his essay, he intimates that all the challenges originate from the crisis caused by the refugees. In 2015, millions of refugees crossed into Europe from the Middle-East and Africa. The civil wars primarily pushed them on http://www.biography.com/people/george-soros-20926527 from their countries. Their effort to seek a better life and be safe has brought numerous challenges to the European countries.
Since the early 1970s, George Soros has been known as the major investor of issues whose addressing needed transparency. He has fought for democracy and human rights in many countries of the world. With his organizations present in more than 100 nations, his impact on life has been felt.
The efforts that George Soros presents have been met with criticism from countries opposed to democracy, and notorious for human rights violations. His country of birth, Hungary, has termed his work ‘irrelevant’. It is because he is promoting and championing the rights of the immigrants in the country, an issue they do not want to address. On the same note on http://www.marketwatch.com/story/george-soros-heres-my-plan-to-solve-the-asylum-chaos-2015-09-29, his organizations have been banned for having activities resembling those of terrorists in Russia. The Russian authorities have felt uneasy and thus the step to cut off their operations. However, it has not killed the spirit; they continue to touch the world in better ways.
Soros writes that the genuine refugees are now suffering because the nations are not able to distinguish and treat the issue as it is supposed to be treated. In his work, the investor writes that the European Union need appropriately address the challenge, which calls for a surge in funding. Other than pooling small amounts each year, he recommends that they spend large sums once, so that the influx occasioned by the war in their countries is addressed. The continued minimal spending will not give a solution.
The billionaire advises that it is better to spend vast sums estimated at $30 billion to sort out the problem for the challenges would be detrimental in not handle in that way. The figure, he says, seems a huge amount, but failure to spend that will have countless effects. The borders are surging with refugees, and the matter is not being addressed adequately. Therefore, to avoid a crisis and a potential outbreak of all kinds of challenges, the European Union should take caution.
George says that the European Financial Stabilization Mechanism have over $68 billion of funds that could be used to sort the problem. The funds are unused and allocating them to the refugee crisis could be the right decision. Also, he advises that future cases with the same features should be carefully addressed.
Learn more about his profile at Forbes.com.