German Chancellor Angela Merkel was declared “Chancellor of the Free World” by Time Magazine and George Soros said rightly so in an interview with Gregor Peter Schmitz published on The New York Review of Books January 20 of this year. She has made wise decisions on both defending Ukraine from Russian aggression and implementing a plan that address the migration crisis. In the article “Ukraine and Europe: What Should Be Done?” published in October, 2015, Soros also identifies other threats to the European Union (EU) that should be viewed as not just threats to the EU but as threats to the Free World as well and offers opportunities for global unity in finding solutions. Facing the problems that threaten the EU could also help to strength the global economy and world markets.
George Soros is probably best known for his 30 years of achieving 30% returns as a hedge fund manager and his philanthropic venture including the Open Society Foundation that operates in over 100 countries. This also gives him a keener insight into financial and political matters. The five crises named in the later article and discussed in the interview are the euro, Greece, migration, Brexits referring to the British decision to leave the EU and Putin’s and Russian ambition in Geo-politics. In his many essays of the past two years, Soros has addressed on Bloomberg and provided possible solutions to each crisis in his commentaries. He gives the highest priority to Ukraine because it is in essence the first line of defense against Russian aggression and can reunite the EU in the principles on which it was founded. This show of unity by the EU nations would also help to diminish Russian aggression and but help in solving the migration crisis by overcoming the separative philosophies brought on through nationalism rather than unity. What would also ease the situation is solving the financial issues that is contributing to the EU’s potential collapse.
Putin and Russia also plays a part in the migration problem by its part in the Syrian refugee crisis, but Russia is also in a financial crisis. Soros February 11 essay entitled “Putin is a Bigger Threat to Europe’s Existence than ISIS”, the migration crisis is discussed in greater depth and the fact that Putin’s regime is facing bankruptcy in 2017. The question introduced is whether the EU sill disintegrate before it happens. Promoting prejudice toward Muslims by encouraging ISIS and al-Qaida exacerbates the separative sentiments in countries such as Poland and Hungry rather than the unity of the EU. The euro crisis also adds to the separative sentiments by creating creditor/debtor relationships between countries.
George Soros has made many suggestion to address the financial needs of the EU, the need to support the Ukraine, the influx of migrants and to lessen the burden of debtor countries. His essay published in October, 2014 “Wake Up, Europe,” in his commentary he suggested re-bonding the Ukrainian debt. Other suggestions included large-scale technical and financial assistance programs from the EU and US as well as EU providing management expertise, bonds and markets access. The essay published February 17, “The Case for Surge Funding,” again suggested using the EU’s triple A credit rather than taxes to address the migration problems as well as help to stimulate the world economy. He said surge funding would result in a win-win initiative. The EU still have options that could result in a stronger Union and a stronger world.