George Soros, financial guru, hedge fund owner, political analyst and philanthropist, is a man concerned about the fate of the EU and of the “new” Ukraine in particular. In a recent article published in NY Books, George Soros outlines a suggestion for a rescue package from the European Union, given in the interest of stabilizing the Ukraine. Though this package would be expensive, it’s worth considering as the value in averting a major debt crisis in the Ukraine is enormous.
Soros is very quick to point out that the EU leadership is already facing many challenges, with crisis after crisis vying for their attention. Right now the EU is having to deal with the ongoing migration crisis, questions about the fate of the euro, and the issue of whether or not Britain will even stay in the EU. Yet Soros stresses that helping to bring stability to the new Ukraine is crucial for the stability of the EU overall.
Save the New Ukraine
The “new” Ukraine began in 2014, in the spirit of the Maidan revolution. This Ukraine is freer and more stable, but it needs support to continue its progress and avoid falling into a Greece-like debt situation.
The package Soros proposes for the Ukraine would include substantial financial support as well as as political crisis insurance, offered affordably. There would also be incentives for investors. George Soros Ukraine makes the point that a more stable Ukraine will become an attractive place for investors, which in turn would help the region stabilize even more. An end to the state run gas monopoly is also part of Soros’ proposal.
Right now the EU leadership certainly has more on its plate than it should have to deal with, but the reality is that the Ukraine must become more stable in order to avoid a larger crisis for the country itself, and the EU as a whole.
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