There is a major migration crisis in Europe which if not well addressed will cause more damage and compromise the unity of the countries under European Union. This crisis is a major humanitarian crisis as the migrants are desperate for asylum.
The flaws of the Asylum Policy
Recent negotiations between European Union and Turkey led to the formulation of an asylum policy. The policy however is full of flaws that are detrimental to the survival of the refugees. On examination of the policy, George Soros found some flaws. The policy is not exactly European as it was made in Turkey. It also lacks funding and refugees are forced to stay in places they do not prefer.
George Soros’ Opinion on the Right Course for EU Asylum System
George Soros explained various actions that EU should take to help rectify the humanitarian catastrophe in Greece. His very worthy advice was published in The New York Review of Books.
One of the actions that EU should take is to dedicate large amounts of funds to address the crisis. This fund on https://www.facebook.com/breakingpolitical/posts/1562000144097945 will help reduce the anti-immigrant sentiment in some countries and help the refugees get settled in countries of preference. Ideally the countries that contain the refugees and the refugees themselves are entitled to financial support so that they can be able to cater for the basic needs. A good amount of fund will help Europe regulate the number of refugees getting in Europe. George Soros proposed the number of arrivals to be 300,000 to 500,000 in a year. This number will enable the refugees to be assured of settlement in Europe and allow the governments to accommodate them comfortably.
George Soros estimated that at least $34 billion (30 billion Euros) will be needed per year. This money will be able to fund all the frontline countries with large refugee population, create a common asylum agency and enhance security in the EU external borders. The amount of this money when compared to the risk of not containing the refugee crisis seems an insignificant amount. The biggest threat of this crisis on http://www.bloomberg.com/news/articles/2016-01-07/global-markets-at-the-beginning-of-a-crisis-george-soros-says is the collapse of the Schengen system. This collapse has been valued to cause losses of about 100 billion Euros annually by the French Commissioner for Policy Planning.
Ways of Raising the Capital
EU is capable of raising the amount needed to save the crisis. What it is lacking is the political capacity. Imposing new tax revenues is the easiest solution but it will obviously get objections. The best way to introduce the tax is through introduction of new legislation. A better alternative will be to reopen the European Commission’s Multiannual Financial Frame work. It will offer an opportunity to increase VAT. EU’s triple-A credit can be employed to get funds too. They could also use financial entities like EFSM and ESM.
George is a world renowned philanthropist and investor. He is the founder and chairman of Open Society Foundations and Soros Fund Management. He is a well known author and has published several important articles. He is among the top listed rich persons in the world. He has made various successful investments. The Open Society is established in more than 100 countries where it supports a number of projects.