From Humble Beginnings, George Soros Has Unique Perspective On Mirgrant Crisis That Threatens EU

George Soros is seeing the world from many different angles. As a boy, his nonobservant Jewish family was oppressed by the Nazi occupation’s hometown, Budapest, Hungary. The Nazis forced the young Soros out of school, instead requiring him to report to the Jewish Council every day, but that did not dampen his drive. In 1947, his family had survived the end of the war and relocated to London. There, Soros would work as a railway porter and a restaurant waiter while putting himself through the city’s School of Economics.

Perhaps it was his life experience, or perhaps it was his excellent education that led him to become the richest hedge fund manager in the world. To do so you he had to pull off daring trades, giving him a legendary status among money men in the world. Some would say Soros was even reckless with his trades, but during the Black Wednesday UK currency crisis he pulled off such a daring trade that he earned the nickname the man broke the Bank of England, netting himself over $1 billion in profit by shorting the UK pound.

What can not be argued is that the man knows his money, and he sees the migrant crisis in Europe as a threat to the European Union as a whole. He is quoted as saying that the EU is “on the verge of collapse.” He understands what the finance minister from Finland has stated in interviews, “The European Union is under threat and that is the freedom of people in the whole Shengen agreement,” he continues, “On top of that, you have a Euro crisis which is about free movement of money so to core pillars of European integration are under threat right now.”

What you mean by that is once millions of migrants show up inside the borders of the European Union they will be the responsibility of all the countries that make up the European Union. Migrants allowed into Germany have access to the free movement between European Union countries enjoyed by the citizens of the union. And the Euro does not consider borders either. If the migrant crisis negatively affects the economy of one of the European Union countries that all of the countries inside the union who lean on the Euro for the value of the currency will feel the impact.

The countries of Europe did not foresee such a migrant crisis when creating the European Union. They lack a universal migrant policy unlike their universal free of citizens and money policy. Soros believes it is essential for the European Union to come together in order to establish a migrant policy that is not only benevolent but fiscally sound, otherwise the EU is on the verge of collapse. Soros, in particular, looks toward Chancellor Angela Merkel and the German people to lead the way as Germany has become the most powerful country in the European Union. He sees it as their responsibility to show strong leadership in order to save the union.


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