George Soros insists that the situation in Ukraine is one that concerns the entirety of Europe. He has made no qualms about his opinion that the European Union needs to step up and do more to make sure that Ukraine is able to remain stable and independent of Russian interference. His decades of experience in writing and speaking about global crises and personal investments in businesses in Ukraine make George Soros Ukraine a particularly relevant voice in advising the world powers about the need for peace in Ukraine. In a series of articles and essays for major publications, Soros sets forth his perspective on what it would take to maintain a long term peace between Ukraine and Russia.
Soros explains that Russian aggression in Europe and around the world simply cannot be tolerated any longer. Even though many European leaders do not express the concern and outrage befitting of a crisis situation that could explode at any moment, Soros says the threat from Russia is very real, as long as Vladimir Putin remains in power. Short of a complete political revolution in Russia, George Soros reminds us that Europe must remain vigilant of keeping Russian aggression at bay. Soros describes the kind of nationalist expansion agenda adopted by Putin as one of the biggest threats to democracy in the Western world today. The situation in Ukraine offers a timely opportunity for Europe to keep a handle on Russia, according to Soros, so European leaders should see to it that Ukraine remains in a stable enough financial position to front a military opposition against Russian troops for the foreseeable future.
The Greatest Investors: George Soros
In very practical terms, Soros also explains that a more generous financial assistance plan for Ukraine could ultimately result in Ukraine being able to repay its many creditors. Because Ukraine is right at the crux of its reform movement, the country remains in an unstable position to be able to forecast long term economic prosperity. If European creditors allow Ukraine enough latitude to fight off its enemies and recover from the financial shock of having to mount a military opposition against Russia, then its odds of being able to regain its balance of trade drastically improve. Thus far, the International Monetary Union has been the major source of financial aid to Ukraine. More support from the EU to Ukraine could significantly boost Ukraine’s chances of getting on solid financial footing in the coming years.
The way that Soros sees the EU being able to step up its assistance to Ukraine is to rely on its huge, unused borrowing capacity. Soros suggests that the EU could also look into European Investment Bank projects, which could be worth more than 10 billion pounds. With these resources, the EU could play an important role in allowing Ukraine to continue its political reforms for a more open and democratic society and fend off Russian aggression at the same time. The way that Soros explains the dilemma, the choice should be simple for European leaders hoping to bring democracy and stability to the entire region.
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