George Soros wants the EU to burden itself with major debt, by paying for migrants to enter the European Union
In addition to an increase in VAT (value added tax) “contributions” from member states, Soros calls for states to borrow money from financial markets, thus adding to a debt obligation that has swamped the continent and produced the so-called “euro zone crisis” responsible for anaemic economic growth and unemployment.
“The EU presently enjoys a triple-A credit rating that is underused and that allows it to borrow in the capital markets on very attractive terms. And with global interest rates at near historic lows, now is a particularly favourable moment to take on such debt,” he writes.
Soros advises EU member states to borrow the money “very quickly” to avoid political opposition.
In addition to spending borrowed money on massive welfare programs for illegal migrants, Soros believes governments need to use the cash infusion to “respond more effectively to some of the most dangerous consequences of the refugee crisis—including anti-immigrant sentiment in its member states that has fuelled support for authoritarian political parties.”
Political parties opposed to the tidal wave of immigrants entering Europe from the Middle East and Africa have gained power in Germany, France, Austria, Denmark, Finland, Italy and other EU member states. In addition to opposition to unchecked immigration, many of the political parties are aligned against the European Union and the political elite.