For the past fifty years, one of the most well regarded economic minds in the world has been George Soros. George Soros is best known for being the head of Soros Fund Management and being a lead advisor to Quantum Fund. Through his investments in these funds and other businesses, he has accumulated a net worth of around $25 billion.
Due to his lengthy industry experience, Soros is often looked to for his opinion on different current events and situations that are impacting the global markets. One situation that has had an impact on markets across the globe, particularly those markets in Europe, has been the migrant situation in Germany. While the Syrian migrant situation is largely considered a social issue, some believe that it could lead to social and economic issues in Germany and also put the entire European Union at risk.
German Chancellor Angela Merkel made international news last year when it was announced that Germany would have an open door policy for allowing Syrian refugees to enter the country. While there is obvious concern for Syrian citizens due to the rampant civil war, the risk of increased terrorist activity due the extremists leaving the county has led many countries to create laws disallowing the migration and immigration of Syrian refugees.
While Germany was recently supportive of Merkel’s decision, the approval of Syrian refugees has continued to decline. The recent terrorist attacks in Paris have only added to the disapproval. To make matters worse for Germans, many other countries in Europe have taken measures to prevent refugees from entering their countries, which has only led to more people to immigrate to Germany.
George Soros believe that this stress on Germany could lead to tensions with other countries in the EU, which could eventually lead to a weakening union or lead to an entire dissolution. While there is plenty of risk for this to occur, he has pointed out that there is still time for this to be prevented. However, in order for this to be prevented, it will be up to Angela Merkel and the rest of Germany to ensure that the union stays strong and unified on this matter.
One suggestion that he has come up with is to extend the current immigration and asylum plan beyond the borders of just Germany and Europe. This will help to reduce the economic load that comes with taking on so many additional residents of each additional country.