Oliver Q
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Oliver Q in European Markets,

Europe is strong enough to take in refugees

Europe can and must face the refugee crisis.

The humanitarian crisis we are experiencing is unprecedented, with an appalling and unacceptable human cost. This year will be historic, with probably close to one million people applying for asylum.

Managing this refugee crisis is particularly complex for a variety of reasons.

The diversity of the population flow -- Syrians, Iraqis and Eritreans accounted for less than 30% of registered asylum applications during the first five months of 2015 -- and the fact that European countries are affected unevenly, pose new problems.

The crisis is likely to persist as long as Syria and Libya remain in turmoil. And the sensitivity of public opinion on migration issues, as their economies exit a major crisis often with persistently high unemployment, influences the attempts to find a coordinated and unified solution.