George Soros is a Hungarian-American investor, author, business magnate, and philanthropist. He has citizenship of both U.S. and Hungary. George was born on August 12, 1930. Apart from owning numerous businesses across the globe, George Soros Ukraine is the Chairman of Soros Fund Management and helped found the Open Society Foundation. After years of successful business deals, he has been able to rise to the top 30 wealthiest persons around the globe.
The wealthy businessman has written several articles on the current crisis in Ukraine. One of these articles, ‘Ukraine & Europe: What Should be Done?’ stands out. In the article, Soros looks at the various things that Europe could do to save the already failing systems in Ukraine.
He argues that although the European Union has become the master of muddling in crises in member states, the crises have been caused by the numerous structural defects of the Union. Soros compares this to kicking a can uphill. Every time the can is kicked, it keeps coming back. For example, when the Union solves a financial problem in Greece, it creates more problems both in the union and in Greece as a country. Currently, the union faces at least five crises: Greece, the euro, British referendum, migration, and the Russian-Ukrainian conflict. What is bad is that the crises are reinforcing each other, thus making them harder and more complicated to tackle.
The Greatest Investors: George Soros
Soros suggests that the crises should be solved in their order of priority. To this end, Soros believes that the Ukraine crisis should be given priority. However, he does not mean that the other four crises should be neglected. George Soros views the new Ukraine as a country determined to grow and establish itself as the opposite of the old Ukraine. Like the old Greece, the old Ukraine was hard to reform due to an oligarch-dominated economy and the greed of the political class that led to misuse of positions. In contrast, the new Ukraine, which was inspired by the 2014 revolution, has the sole objective of reforming the country.
In the pro-European protests, a new Ukraine was born after President Viktor F. Yanukovych was driven from power. Even when under the Russian military assault, the spirit for change among Ukrainians is ever stronger. Levy and Soros posits that Maidan supporters have moved from opposition and are now fully immersed in nation building. Most individuals have left their well-paying jobs to volunteer in parliament and government. The new finance minister, Natalie Jaresko, was a former investment banker. It is proper to note that many people do not know the secrets of the new Ukraine. Radical reforms have been put in place. The only remaining part is implementation of the same.
The Russian President continues to step up financial and military pressure on Ukraine. Even though the country is defending itself militarily, it necessitates financial assistance. There is the need for western powers to make political commitments towards availing additional funds, enhancing Ukraine’s reforms and suppressing Russian assaults. The reformers are working on ensuring that they avoid leakages that were common in the old Ukraine. They have also told the populace to hold them accountable for all the expenditures.