George Soros's plea to stand up for Europe is also a condemnation of Hungary's illiberal leader, Viktor Orban, with whom he has a strained relationship, although Orban had been a recipient of a Soros-funded scholarship to study in England. Soros displays a sense of palpable paranoia, when he sees the EU in "existential danger" with Russia under Putin, Turkey's Recep Tayyip Erdoğan, Abdel Fattah el-Sisi’s Egypt, and America under Trump posing an "external" threat. I agree that the "threat" within, is even more serious, because it will slowly erodes Europe's liberal values and unity. He urges for a "salvation and radical reinvention" of the European Union, citing Emmanuel Macron's effort to revive the support for the bloc.

To begin with, regarding the 2008 financial crisis, Soros says the treaties that govern the EU were "irrelevant to conditions prevailing in the eurozone" and posed an obstacle to "the functioning of European institutions." The austerity measures that creditors dictated, had alienated the debtors, because they couldn't "grow their way out of their liabilities." This unleashed deep resentment and created the north/south divide. The author says this "top-town approach" that Jean Monnet - one of the founders of today's EU - adopted, may be obsolete. Now Europe needs "a collaborative effort that combines the ....top-down approach with the bottom-up initiatives needed to engage the electorate."

While negotiations over Brexit will last longer than two years, and they can at times turn ugly, Soros says the EU shouldn't lose the focus on "its own existential crisis." He calls for "negotiations in a constructive spirit, recognizing the unpredictability of the future." It's true that the situation is fluid and British voters could change their minds, especially if the EU has once again become more attractive. This "presupposes" that the EU transforms itself into a desirable organisation, that gives coming generations a "hope for a better future."

What plagues the EU more is the eurozone, which is "governed by outdated treaties, and that its governance cannot be altered because treaty change is impossible." What Soros finds absurd is that countries like Sweden, Poland, and the Czech Republic "have made it clear that they have no intention of joining the euro, yet they are still described and treated as 'pre-ins'." Due to different economic strengths, eurozone members tend to move "at different speeds," and - rightfully - reject an "ever closer union."

Instead of a "multi-speed" Europe, Soros makes a sensible proposal: A "multi-track" Europe that "allows member states a wider variety of democratic choices would have a far-reaching beneficial effect. As it stands, member states want to reassert their sovereignty, rather than surrendering more of it. But if cooperation produced positive results, attitudes might improve and objectives pursued by coalitions of the willing might attract universal participation."

The refugee crisis is another "existential" threat to Europe, that needs to be dealt with. But what Soros finds heartening is that the populist wheels set in motion by Brexit and Trump's win have lost their momentum in this year's elections in the Netherlands, France, and most likely in Germany in September. He is also "encouraged by the spontaneous, grassroots initiatives" launched by young people in support of Europe across the Continent, including "the resistance to the ruling Law and Justice Party in Poland, and to Prime Minister Viktor Orbán’s Fidesz party in Hungary."

Soros is founder of the Central European University (CEU) in Hungary, which is facing closure, following a new legislation proposed by Orban's right-wing Fidesz government. Aimed at building a bastion of liberal thoughts and promoting the values of an open society and democracy, the CEU has become the latest target in a campaign by Orban's government against liberalism.

The CEU, established and registered in New York State, is an independent, private university for some 1.440 students - 334 from Hungary and the rest from 107 other countries. Founded in 1991, it serves to "resuscitate and revive intellectual freedom" in parts of Europe that had endured the "horrific ideologies" of communism and fascism. And it presents itself as a champion of free speech..

The Hungarian government says the CEU and other foreign-funded universities are operating outside the law, and that the new legislation aims to create a new legal footing. If approved by parliament, the university can only continue working if an intergovernmental agreement between Trump and Orban is signed, and if the university establishes a campus in the US by February next year. An agreement is most unlikely, as both Trump and Orban are sworn enemies of Soros. Moreover, the CEU has no campus in its home country.

Critics say the university is fully legal and the new law has been designed to defame the CEU in the eyes of the Hungarian people. It would be forced to change its name, set up a campus in New York, change its curriculum and become subservient to both the US and Hungarian governments. Soros says, "it is not enough to rely on the rule of law to defend open societies; you must also stand up for what you believe." In the case of Hungary, "democracy can’t be imposed from the outside; it needs to be achieved and defended by the people themselves." He is right. Let's hope that the CEU will continue to hold its "rank among the world’s top 50 universities in many of the social sciences."

