George Soros has an interesting background. From fleeing Hungary in 1947 during WWII for England to being known as the “man who broke the Bank of England”, there’s a lot we know about him. According to Investopedia, he is also the one who is known as the “trigger” for the 1997 Asian financial crisis due to a large bet against the Thai baht. He is also known as a political activist and a philanthropist, overseeing the Open Society Foundations.
The latest thing that Soros has become known for, found in MarketWatch’s latest article about him, has to do with helping solve the latest global issue that has popped up: Syria’s refugees and those seeking asylum. He noted that the European Union needs a strong, centralized plan to deal with asylum seekers – both now and in the future. The reason this is needed is because each member state of the EU has only focused on themselves in a selfish manner. This results in them often going against the interests of other member states.
So…how does he think it should be done? Soros believes that the EU should take six steps to fix the problem, and the first people to benefit directly from them would be those seeking refuge from the problems in Syria.
The first step the EU needs to take, according to him, is that over all the member states, at least one million refugees need to be taken in each year – for a while in the foreseeable future. This means the burden would be shared equally between all the member states. Each asylum seeker would also need to receive 15,000 euros (or $16,800) for the first two years. Communication needs to be streamlined so that everyone is on the same page.
Secondly, the EU needs to take the first steps and lead the global effort to support the refugees in Lebanon, Turkey, and Jordan. Turkey alone needs about 20 billion euros to support all the refugees it has taken in. Third, the EU would have to streamline all the asylum seeking processes. Twenty eight different processes is too much! This creates a clunky and inefficient system.
The fourth step is to create safe passage to their destinations, and making it easier to get across the Mediterranean. The less danger there is in crossing this portion of the world, Soros argues, the numbers of refugees trying to cross will drop. Turkey would be the priority.
The fifth piece of this puzzle is to arrange global standards for dealing with asylum seekers, refugees, and migrants. This would cut down on issues in misunderstanding conduct.
Finally, the EU would have to have private organizations as sponsors so that more than one million refugees can be taken in each year.