Does the European Union Need a Common Asylum Policy?
Deflationary Pressures Rising: Where Is Soros Putting His Money?
The European Union appears close to falling apart
The European Union (or EU) appears to be falling apart, and a major cause is the migration crisis. The problem stems from the rush of refugees who seek asylum while it’s available in the European Union. A large number of people seeking asylum on account of the war in Syria are increasing the pressure on government spending in different EU nations.
The European Union already launched attacks against ISIS (Islamic State of Iraq and Syria) in Syria after the terror attack in Paris, implying a substantial rise in government spending. This war will likely weigh on the continent that’s already struggling for gross domestic product growth.
The European Union needs a common asylum policy
If the EU nations get together and create a common asylum policy, set an upper ceiling to the number of refugees that would be accepted per year and keep that window open, that may help slow the rush of asylum seekers entering the EU nations. Russia (RSX) seems to be using the Syrian crisis as a tool to disintegrate the currency union.
In the absence of any such common asylum policy, the influx of refugees leads to panic among the general population, the refugees, and the authorities responsible for law and order. Once a common system is in place, there should also be a comprehensive policy that goes beyond the borders of the European Union, and to refugees where they’re situated. The European Union can open its common market to special economic zones, with free access to European markets (FEZ) (HEDJ (VGK) (VEA). Turkey has already lost 10% of its employment to Syrian refugees. These special economic zones would be in the interest of all as they would provide employment to both Europeans and refugees.
Soros supports the Schaeuble Plan
Soros is an enthusiastic supporter of the Schaeuble Plan. The Schaeuble Plan comes from the German finance minister, Wolfgang Schaeuble. In his plan, Schaeuble has advocated certain institutional changes that might provide the Eurozone with its missing political mechanism. The plan proposes to have an independent body in the Eurozone with certain powers, thereby, limiting the European Commission’s powers over such matters. The plan rests on two key ideas:
to have a European budget commissioner with powers to reject national budgets if they don’t correspond to the rules set
to have a Eurozone parliament comprising the MEPs of Eurozone (DBEU) countries to strengthen the democratic legitimacy of decisions affecting the single currency bloc
While the markets may have deeply criticized the plan, Soros stands firm on his stance that the Schaeuble Plan is needed by the European Union.
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