<p>Billionaire Investor George Soros on Tuesday claimed the European Union was in the midst of an &ldquo;existential crisis.&rdquo;</p>
<p>&ldquo;Everything that could go wrong [in Europe] has gone wrong,&rdquo; Soros said during a speech to the European Council on Foreign Relations in Paris. ; ;</p>
<p>In a speech titled &ldquo;How to Save Europe,&rdquo; Soros highlighted the bloc&rsquo;s failure to handle the 2015 refugee crisis and claimed its austerity policies have &ldquo;hindered Europe&rsquo;s economic development.&rdquo; The billionaire also expressed concerns regarding territorial fragmentation and the political chaos in Spain. ;</p>
<p>The ongoing Brexit negotiations are distracting the bloc from factors that could cause a &ldquo;major financial crisis,&rdquo; warned Soros, citing a strong USD, Trump&rsquo;s decision to withdraw from the JCPOA, and uncertainty over tariffs that threaten transatlantic trade.</p>
<p>The only way for the EU to avoid disaster is to &ldquo;reinvent itself,&rdquo; continued Soros. This includes transforming into &ldquo;an association that countries like Britain would want to join&rdquo; and removing regulations which dictate the number of refugees each EU member should accept. ;</p>
<p>Soros also called ;on ;grassroots organizations ;to engage with ;middle-class citizens and outlined a program to boost education and employment in Africa. The program, which ;would cost $34 billion per year, ;could significantly reduce the number of people seeking refuge. The EU could easily fund the program through its &ldquo;largely unused&rdquo; borrowing capacity, he added.</p>
<p>&ldquo;I want to point out that the proposal contains an ingenious device that would enable the EU to borrow from the market at a very advantageous rate without incurring a direct obligation for itself or for its member states.&rdquo;</p>
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<p>George Soros is a Hungarian-born investor and liberal activist who has repeatedly been criticized for meddling in European politics via his Open Society Foundation &#8211; which in 2016 lobbied heavily against Brexit.</p>
<p>Earlier this month, Soros announced he would be pulling OSF out of Hungary following aggressive opposition from Prime Minister Viktor Orban and the ruling Fidesz Party. Orban, who was re-elected last month, campaigned against Soros&#8217;s liberal immigration policies, which he warned would flood Hungary with Muslim immigrants and undermine national culture. ;</p>
<p><strong>Author&#8217;s Note:</strong> Soros is calling out a crisis, but his solutions would be much worse. His criticism of the ;refugee crisis is too late. His criticism of austerity is ;stupid because austerity is the only way for countries to get back on solid financial footing. His criticism of Brexit is ;absurd because the whole point of the referendum was to give people an opportunity to escape the EU&#8217;s foolish policies. ;</p>
<p>And his proposal to use borrowing to fund potential solutions to the refugee crisis would put the EU in massive debt. If the EU follows Soros&#8217;s socialist and liberal policies, it really will be facing an existential crisis. ;</p>
<p><strong>Editor&#8217;s Note</strong>: Adding to the above, I believe the EU is already facing an existential crisis. The Muslim population is expanding massively and they could very possibly win in a population war.</p>