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George Soros, billionaire and founder of Soros Fund Management, speaks during an interview in London in March.
The Hungarian-born billionaire George Soros has offered a three-point plan in order to preserve the status of the European Union.
Europe’s alliance has been under strain as bigger more powerful countries demand that those with struggling economies rein in their spending to reduce debt. This enforced austerity has led to high unemployment in countries such as Greece and Italy. Added to the mix was a migration spike from the Middle East and Africa into many countries that were already struggling in the wake of the financial crisis.
Speaking at the European Council on Foreign Relations annual council meeting Tuesday, Soros said Europe was in “an existential crisis.”
In a speech titled “How to Save Europe,” Soros claimed that the bloc’s pressing issues can be broken down into the refugee crisis, territorial breakups such as Brexit, and economic struggles brought on by austerity.
The philanthropist said the best place for Europe to begin would be to address the refugee crisis and to remove regulation which dictates the number of refugees that each country should accept.
“Member states should not be forced to accept refugees they don’t want and refugees should not be forced to settle in countries where they don’t want to go,” Soros said.
