Notorious investor George Soros is once again pushing for a more integrated European Union. The question many are asking, is why? Known for currency manipulation and making a fortune off of negative news and events, Soros is urging euro zone leaders to create a euro zone treasury and is stressing that the euro can only be saved if all 17 countries that share the currency act in unison.
In an open letter published in the Financial Times on Wednesday, Soros said they wanted euro zone governments to agree on the need for a legally binding agreement that would "establish a common treasury that can raise funds for the euro zone as a whole and ensure that member states adhere to fiscal discipline."
The EU has attempted to enforce a common monetary policy before, without a common -- many EU member states fear a common treasury would infringe their sovereignty. Which of course, it would.
The letter also called for tighter common supervision, regulation and deposit insurance within the euro zone, as well as “a strategy that will produce both economic convergence and growth because the debt problem cannot be solved without growth”.
Most importantly, the euro zone crisis needs a European solution, they said. “The pursuit of national solutions can only lead to dissolution,” the letter concluded.George Soros made a great deal of his money by almost destroying the British currency -- one has to wonder what his motivations are for trying so hard to bring about a United States of Europe. Soros doesn't care about individual nations or their sovereignty, so it is doubtful his motives are good ones.