EU should save itself by launching a €30 billion-a-year Marshal Plan for Africa – George Soros

I should also mention a Marshall Plan for Africa, variations of which have been supported both by Germany and France. A meaningful Marshall Plan would require at least €30bn additional a year for a number of years. This is far in excess of what member states are willing or able to put up. But it could be financed by tapping the largely unused borrowing capacity of the EU. Right now, the future of the EU is too uncertain to launch the financing scheme, but if Germany and France undertook to pay the out-of-pocket expenses for the first year, which are bound to be minimal, it would go a long way to reestablishing confidence in the future of the EU. The amount invested would be small potatoes given what is at stake, namely the disintegration of the union.

The disintegration of Europe is no longer a figure of speech: it is a harsh reality.

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By OzoIgboNdu1 of Igbo Defender

Digital marketer and Marketing analyst


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