Fresh from helping wreck American cities, George Soros now offers his very valuable thoughts on European immigration policy.
First, the EU has to accept at least a million asylum-seekers annually for the foreseeable future. And, to do that, it must share the burden fairly – a principle that a qualified majority finally established at last Wednesday’s summit.
Adequate financing is critical. The EU should provide €15,000 ($16,800) per asylum-seeker for each of the first two years to help cover housing, health care, and education costs – and to make accepting refugees more appealing to member states. It can raise these funds by issuing long-term bonds using its largely untapped AAA borrowing capacity, which will have the added benefit of providing a justified fiscal stimulus to the European economy.
This comes to around €1,250 per migrant, monthly.
That is higher than the average salary in 14 of the EU’s 28 member states (and that’s not accounting for the fact that at least some of the migrants are children).
In total, the program as stated would add up to nearly $20 billion annually. I wonder what part of his own wealth (which happens to be in the same ballpark), if any, Soros is offering as a contribution.
Even from the (progressive) effective altruism angle, $20 billion is almost equivalent to the annual revenues of Nigeria, Sub-Saharan Africa’s biggest and richest low income country. For that kind of money per immigrant, you could hire five to ten good doctors in the D.R. Congo.
Incidentally, Soros – a man who made his fortune in financial speculation – has a long record of making unsolicited suggestions on how European taxpayers should spend their hard-earned money…
Allocating 1 percent of the EU budget to the defense of Ukraine seems appropriate; this would allow the European Union to contribute as much as €14 billion annually to the IMF-led assistance program—a contribution that would be large enough to allow for the European Union to do “whatever it takes” to help Ukraine succeed.
… And that’s not even all:
With the EU’s “fiscal compact” and other rules limiting the scope of government assistance, innovative thinking is needed. The single most effective measure would be to offer free political risk insurance to those who invest in or do business with Ukraine. This would keep the economy running, despite the political turmoil, and it would signal to Ukrainians that the EU and the US – governments and private investors alike – are committed to them. Businesses would flock to a newly open and promising market if they were fully compensated for losses caused by political events beyond their control.
For his part Soros has merely said that he may invest $1 billion into Ukraine.
($100 million!? I don’t have $1o million. What do you need $1 million for anyway? Here’s $100,000. That should be enough to open another NGO in Kiev. Meanwhile, excuse me while I go and bet against the grivna).
If Soros is urging you to do something, it’s almost always a good idea to listen – and then proceed to do the precise opposite and kick his NGO stooges out of your country (like the mighty Orban did in 2014). Weathering the rage and fury of his Western neocon friends is a small price to pay in comparison.