Europe’s Refugee Crisis Considered By George Soros

The refugee crisis spreading across Europe on http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says is something nobody has been able to ignore as images of people in need have flooded news channels and Websites around the world. In the New York Review Of Books, the former refugee and hedge fund billionaire George Soros took aim at the problems he sees in the latest plan to address the crisis created by Germany and Turkey, a plan the Hungarian born Holocaust survivor describes as not European in nature. Alongside detailing the problems the latest deal to address the crisis has created George Soros also gave his own opinion on how the plight of refugees could be handled in a more humane way.

George Soros has also looked to use his own experiences on http://www.nybooks.com/contributors/george-soros/ as a refugee to bring the facts about democracy to those he hopes to help through his Open Society Foundations, which he formed in a bid to assist those trapped in closed societies around the world. The story of George Soros saw him held in a Nazi concentration camp during World War II before he embarked on his own journey as a refugee to complete his education and start his own hedge fund.

During the ongoing European refugee crisis George Soros has looked to use his own skills in finance to provide a distinct plan on how to handle the issue. Soros created his own hedge fund in the 1960s and saw annual growth of more than 20 percent for his fund across more than three decades; Soros now has a personal wealth of more than $25 billion based on the skills he developed as a hedge fund manager.

The European Union is being placed at risk because of both the latest plan to handle the refugee crisis and the influx of refugees onto the continent; George Soros believes it is important for the European Union to develop a consistent plan that can be put into place for a number of years. Using the extensive credit worthiness of the European Union Soros believes a loan that rates around one quarter of one percent of GDP will see many issues pushed aside. Among the issues the continent faces is the use of debt ridden Greece as a holding ground for refugees amid the poverty the nation already faces; Soros believes making a continent wide policy and basic cost of living for each refugee would limit the issues member states of the EU face.

Read his profile at Forbes.