George Soros is a famous business person and philanthropist, who claims that his success in business makes him obliged to speak out on sensitive matters that others fear talking about. George Soros was born in Hungary, where he fled to England due to government oppression before he moved on to America. George Soros is usually called upon by international media to give his economic analyst view of different situations and was recently interviewed by Gregor Peter Schmitz of the German magazine, WirtschaftsWoche. This interview was mainly about the current state of the European Union and the possible outcome. According to George Soros, the European Union is on the verge of collapse due to the many problems the union is facing at the moment.
George Soros identified on Bloomberg.com that the Syrian crisis as one of the major issues the European Union has to deal with if it wants to stay afloat. The war in Syria is generating a lot of refugees who are looking refuge in other European nations. Despite nations like Germany, whose chancellor, Angela Merkel, is the chair of the European Union welcoming the refugees into their countries wholeheartedly, there are some like Hungary and Poland, which have resorted to a no refugee policy. This brings back progress though the only real solution is to bring lasting peace to Syria.
The issue of increased Syrian refugees is backed up by another problem of immigrants. For many years, Europe has been a hot cake to illegal immigrants from the third world and developing countries. The increased number of immigrants recently has even posed a challenge to the economy of European nations as it is currently. With the current unstable economic state, most countries and can not cater for all the immigrants entering their countries. For this reason, Angela Merkel, the chair of the European Union introduced an asylum seeking a policy that allows a member of the union to receive a sustainable number of immigrants from time to time.
Another major issue is the instability of the European currency, the euro. With the current Chinese instigated global crisis, the euro is affected. Its value has significantly reduced in the recent past. With Britain trying to pull out of the union, the value of this currency is will even be under more threat. The European Union has no option but first to solve its internal crisis like that of Syria, to at least try and save the euro.
But that will not be enough, the Russian inversion to Ukraine is even more threatening and needs to be addressed first. Vladimir Putin, the Russian president, seems to be taking advantage the situation to want to take control of the Union and all European leaders should be cautious of him. Internal conflicts affected the economy of the Union as a whole as it cripples regional trade. Greece also has to be saved from its economic crisis so that it can join hands with other European nations to fight the other problems and prevent the collapse of the union.