George Soros is one of the most known and influential figures in the world of finance, mainly due to the success of the investment fund he created. He’s also a philanthropist who contributed billions of dollars over his lifetime to various charitable causes, as well as a respected commentator on global economic affairs. He is frequently invited to speak at economic forums around the world and also publishes opinion pieces on issues that affect the economies of different parts of the globe.
His more recent writings are centered around the problems being faced by Ukraine and Europe. In an article published by the Wall Street Journal, George Soros states that Ukraine is hard at work implementing reforms to get its economy back on the right track, but needs some outside help to do so. In his opinion piece, he writes that while the nation has $19 billion in foreign debt, its economy has suffered a serious downturn as a result of Russian aggression. He believes that Ukraine deserves to receive some form of debt relief, allowing it to continue its efforts to rebuild its economy and eventually become stable enough to attract sizable foreign investment.
In another article written by Soros and published by Project Syndicate, Europe’s ability to help Ukraine is emphasized. Ever since the country went through a revolution which ousted a former government known for its corruption and mismanagement of public funds, Ukraine has become a lot more open to the idea of close cooperation with the European Union.
At a time when the EU is faced with many internal issues and growing dissatisfaction among citizens of member states, George Soros reminds us that the original purpose of the EU is to have European nations working together for the common good. He believes that member countries need to rapidly find ways to efficiently collaborate again, as Russia is showing that it can turn into a powerful adversary to the EU. Russia’s leadership, most notably Vladimir Putin, is becoming increasingly ambitious in strengthening their country’s geopolitical position. The use of military force in the annexation of Crimea shows just how far Putin is willing to go in an effort to achieve his goals.
One of the ideas put forward by Soros in the Project Syndicate opinion piece is that by helping Ukraine receive the financial assistance it needs to build a strong economy, European leaders will also be helping the EU. He believes that if European nations work together to help their ally, they will show that they’re capable of standing up to Russia.