Monthly Archives: August 2016

George Soros Explains Why Ukraine Needs Assistance from the EU

Billionaire hedge fund manager, George Soros has become one of the most vocal proponents of Ukrainian stability. The founder and chair of the Open Society Foundations recently penned an edifying article on Project Syndicate, calling for the European Union to support Ukraine’s recovery. Besides this, Soros openly portrayed his displeasure with the way Russia has been advancing its tyrannical tendencies, more so through the annexation of Crimea.

The Maidan revolution should be a wakeup call to all European nations. It clearly showed that Ukrainians were tired with the old Ukraine. The citizens stood up against a well-trained and armed army, and eventually won. The birth of the New Ukraine was a historic moment, and the epitome of patriotism and nationalism. Unfortunately, Ukrainians have been abandoned by the EU at their hour of need. The union has failed to offer necessary support to sustain the gains made. Ukrainians have for a long time, wished to be associated with the EU, something that the union itself seems to be unconcerned with.

Maintaining Stability in Ukraine

Many people are questioning whether the prevailing stability will be maintained in the long run. The hopeless division of the European Union has only worsened the situation. The euro crisis in particular, threatens to tear the continent apart. Debtor countries have been pitted against richer nations, which happen to make a larger contribution to the EU’s coffers. Russia used this state of crisis to gain an upper hand during its negotiations with Ukraine.

According to the billionaire, unassertive leadership is the EU’s main waterloo. Merkel and other top leaders of the union have failed to act decisively. This explains why Europe has been faced with incessant crises over the years. The European Union should stop burying its head in the sand, and act sensibly. The first thing that needs to be done is putting together a sizable financial package, which will save Kiev from imminent economic collapse. This is however, not enough to sustain the current stability. The Renaissance Foundation was founded by Soros in 1990 to promote political reform in Ukraine. The EU needs to learn from the success that the foundation has had.

Read more:
George Soros | Open Society Foundations (OSF)

Sustaining Ukraine’s Breakthrough

Apart from financial backing and political reform, Ukraine is in dire need of managerial expertise. The country similarly needs more access to global markets. This will ultimately pave way for economic recovery. However, such possibilities can only come true with assistance from the EU. Lessons need to be drawn from the recovery of Central European economies in the mid-nineties.

Ukrainians have remained hopeful in the face of adversity. Their doggedness is the strongest indicator that the country will recover economically and politically. Ukraine is blessed with vast natural resources, which need to be harnessed for economic prosperity to be guaranteed. The prevailing business climate must similarly be improved through the elimination of corrupt cartels. The EU and its partners also need to market Ukraine as a worthwhile investment destination.

Learn more about George Soros:

Insurance issues you must consider before renting your House through Airbnb

Airbnb provides a platform that transforms homeowners into amateur hoteliers. By renting out part of their homes, homeowners become minor players in the hospitality industry. Through Airbnb, homeowners are able to generate incomes that helps them pay off their mortgages.

Airbnb has become popular among homeowners. The prospects of making money by temporarily hosting travelers are attractive. However, it is important for homeowners to approach this venture cautiously. This is mainly because the venture is not yet fully covered by home insurers.

With the risk of incurring financial losses as a result of hosing temporary tenants, homeowners must weigh their options wisely. As a homeowner, you must be careful not engage in a venture that has higher running costs than the proceeds from it. Subsequently, it is recommended for homeowners to consult with a wealth management expert before renting out their homes to Airbnb.

In order to reap the benefits of renting out your home, it is important to consider all the issues that may subsequently emerge. Such issues include:

Risks involved
Renting out part of your house may expose you to additional risks on top of those covered by your insurance policy. To begin with, your temporary tenants may damage your house or destroy your neighbors’ properties. Such damages are often not covered by common home insurance policies.

Other than possible destruction of properties, tenants may engage in unlawful activities or refuse to meet their financial obligations. In such cases, your contract may involve several lawsuits that may prove costly.

Insurance Covers
Many of the incidents that result from temporary tenants are not covered by common home insurance policies. Subsequently, you may be required to repair your house in case your tenants damaged it or foot any hospital bills that may result from injuries sustained by your hosts during their stay.

How well are you protected against risks by rental firms such Airbnb?
Companies that enable homeowners to rent out their homes often provide secondary coverage. This coverage has a downside in that it leaves the homeowner’s resources exposed. It only covers the costs above what the homeowner’s resource can cover. This makes it crucial for homeowners to always engage professional insurance or wealth management experts before contracting rental companies.

Richard Dwayne Blair, the founder and owner of Wealth Solutions Inc., is among the most sought after asset management experts in the industry. His career in finance and financial services spans over 22 years. Considering his vast knowledge and experience in insurance and investment management, Blair is best placed to give you all the professional advice you may need when engaging firms such as Airbnb.

Blair is a graduate of University of Houston. He majored in finance and financial management, a field he pursued with passion culminating in the creation of Wealth Solutions Inc. in 1994. He is a certified and registered Estate and Trust Specialist and an advisor on investment among others.

Learn more: