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Soros Calls on Eurozone Legislatures to Form a Common Treasury


"The worse a situation becomes, the less it takes to turn it around, the bigger the upside."

George Soros and an eclectic assortment of European businessmen, politicians, academics, and economists have taken it upon themselves to pen an open letter to legislatures of the eurozone countries. In the letter published by The Financial Times they write:

We, concerned Europeans, call upon the governments of the eurozone to agree in principle on the need for a legally binding agreement that would:

1) Establish a common treasury that can raise funds for the eurozone as a whole and ensure that member states adhere to fiscal discipline;

2) Reinforce common supervision, regulation and deposit insurance within the eurozone; and

3) Develop a strategy that will produce both economic convergence and growth because the debt problem cannot be solved without growth.

While a legally binding agreement is being negotiated and ratified, the governments of the eurozone must in the interim empower the European financial stability facility and the European Central Bank to co-operate in bringing the crisis under control [emphasis added].

These institutions could then guarantee and eventually recapitalise the banking system and enable countries in need to refinance their debt, within agreed limits, at practically no cost by issuing treasury bills that can be rediscounted at the ECB [European Central Bank].

The proposals made in the letter and the urgency it conveys underscore two well-documented facts about George Soros: his long-time support for the consolidation of authority and his belief that crises need to be utilized in order to make such things happen.

"Establish a common treasury . . .  and ensure that member states adhere to fiscal discipline" Soros and the 95 signers write. This is almost verbatim what Soros advocated in The Crisis of Global Capitalism when he wrote, “To stabilize and regulate a truly global economy, we need some global system of political decision-making.”

“In short, we need a global society to support our global economy,” Soros said. “The sovereignty of states must be subordinated to international law and international institutions.”

In other words, "reinforce" and "regulate" the member states under a centralized authority.

And that is precisely what this urgent call to eurozone legislatures is about.

This should not be news. It is a well-know fact that, for years, Soros has been pushing for the establishment of some sort of New World Order. The eurzozone crisis simply serves as a springboard to make it happen.

After all, it was Soros himself who astutely noted in a Time magazine interview that, “The worse a situation becomes, the less it takes to turn it around, the bigger the upside."

Click here for the full list of signers.

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