George Soros is known to be a well respected investment manager and economic development authority. In a series of recent article, the businessman has demonstrated his insight into the conflict on Ukraine, and he has called for increased support from the world community. The European Union is currently facing several structural issues at once, and all of them demand attention and action. Soros feels that the conflict between Russia and Ukraine is pressing, and that the European Union needs to respond, both out of obligation and the threat that this conflict poses to them.
Russia’s aggression has caused the world community to impose aggressive economic sanctions, and these sanctions have done an number on the Russian economy. Coupled with a quick drop in oil prices, this policy has left the Russian economy in shambles. However, this strategy of economic warfare has also emboldened Putin and his anti-western position. In his view, Russia’s problems are solely the result of Western meddling. Soros believes that supporting Ukraine with debt relief and other measures would weaken Putin’s claims and provide an outpost of democracy next to Soviet borders. With financial support for Ukraine , the message from the world community would be clear: Russia’s economic policies are their cause of financial pain, not the west.
The Greatest Investors: George Soros
However, the European Union finds themselves in a difficult financial situation. This past decade has been a parade of bailouts and austerity, and countries like Greece are still deeply underwater. Furthermore, Ukraine is not part of the Euro zone. Under this lens, it can be difficult to bolster support for Ukraine. This past month has seen the UK vote to leave the European Union, which could pose an existential threat to the agreement. While Britain’s exit is still on hold, the people of the UK sent a strong message with their vote. Soros believes that supporting Ukraine would be a relatively affordable way to increase the strength of the European Union in a time that desperately needs it.
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