George Soros on the European Union Crisis

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George Soros, billionaire financier, has issued a warning that the European Union is on the verge of collapse. More than a million refugees and migrants entered the region in 2015. Soros thinks that German Chancellor Angela Merkel is the key to solving the crisis. Soros says on Bloomberg.com the European Union badly needs fixing. And that it will be up to the German people to decide how far they go with the situation due to them being the dominant power in Europe.
About the crisis, here are some of Soros’ direct quotes:
“Merkel correctly foresaw the potential of the migration crisis to destroy the European Union. What was a prediction has become the reality. This is a fact but it is not irreversible. And the people who can stop Merkel’s dire prediction from coming true are actually the German people. ”
Finland’s Finance Minister, Alex Stubb, thinks the crisis of free movement, and the value of the Euro, makes for a difficult problem. Stubbs says one key to solving the crisis is to integrate the refugees and migrants into the society, as in teaching them the languages and getting them gainful employment.
Stubbs has four keys to solving the crisis. Countries have to be more competitive in the international marketplace. Member countries have to expand what they export. More jobs have to be created, and more tax revenue has to be collected.
On the crisis of the Euro, Soros thinks Markel missed a chance to right the ship when the Lehman Brothers went bankrupt in 2008. She was not willing to rescue the European banking system because she thought German public opinion would have been strongly against such a move. About why there is resentment toward refugges in Eastern Europe, Soros says there are not strong roots it comes to fostering an open society. He thinks countries like Hungary are more likely to cling to religion and national indenity than they are in welcoming refugees from other countries. He thinks Poland’s society is so much homogeneous in nature that they would not support the migration movement.
Soros thinks the principles on which the European Union is based has been eroded in recent times. He thinks the union has come down to who are the debtor and who are the creditors.
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