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Tag: Economic Forum Davos

  • Bill Gates urges US to take more refugees

    One of world’s richest men, IT billionaire Bill Gates, wonders why the United States keeps away from the refugee crisis and refuses to take in more immigrants.

    “The United States are supposed to be a good example and receive more refugees. We should have the necessary capacity to handle the situation. I think Germany and Sweden should be congratulated for opening their doors, although it is not easy for them. The total number of refugees does not represent a new world record. Political sensitivity and extremely low budgets make this topic be extremely serious,” Bill Gates told BBC News at the Economic Forum in Davos.

    Germany is the country that welcomed a record number of refugees over the past year, 1.1 million. By opening its borders, Sweden became more spectacular as any country of 10 million inhabitants has 160 thousand asylum applications in process. These figures overwhelm by far the 10,000 immigrants taken by the United States.

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  • European Union is breaking apart, warns George Soros

    Hungarian-born American billionaire George Soros believes that Europe is on the verge of collapse and disintegration.

    “The European Union is facing an existential crisis and needs to get out of it because the immigration issue is very stressful and the EU is falling apart.

    George Soros (wikimedia commons)
    George Soros (wikimedia commons)
    “This is the proper time for a major initiative, something like a Marshall plan. It is amazing that some hints come from Schauble (i.e. Germany’s Finance Minister). I also proposed a Marshall Plan for Eastern Europe, including Russia, over 25 years ago. At Potsdam in 1989 when the city was still part of Eastern Germany. The idea was received with amusement then, but now it should not be regarded so. I think such a plan will be difficult to pass because there are still many disagreements which might lead to the disintegration of Europe. Many people know that something went terribly wrong and things have to be fixed”, said Soros during an interview for Bloomberg at the Economic Forum in Davos.

    The Marshall Plan was the first reconstruction plan conceived by the United States and aimed for the Allies after the Second World War. As a program of financial assistance developed to help the European economies and stop the spread of communism, Marshall was designed to tackle economic issues.
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    Asked if investors underestimate the risks assumed by the European Union and if there is a risk of rupture as that caused by the Greek crisis, the billionaire said that nothing has changed from last year.

    “Greece is still a problem. It is in fact the only problem without a solution. The country was so messed up that can only go forward, but there is no solution and no vision. This issue is about to explode again. You can see that on Tsipras’ face,” said George Soros, who had predicted a global recession in 2011 because of the Greek debt, but that never happened.

    Soros said earlier this year that problems of the global stock markets caused by the slowdown of China’s economy, could signal a new financial crisis similar to that from 2008. The tycoon warns business professionals to be cautious when making investments in 2016.