George Soros, Europe, Euro and the future.
In his speech at Frankfurt he suggests Germany adopts the Eurobond or leave the Euro . I agree totally with his speech which can be found on his website.
However he fails to mention anything about the global limiting of indebtedness of nations, or of whole currencies, to this end I firmly believe there have to be limits of indebtedness to which nations have to bind themselves and there should be a sliding scale of regulation and control that all nations can agree to, so that indebtedness is caught at the early stages of conception, rather than wait until we are in crisis before any action is taken.
This regulation and control should be in the form of self regulation of taxation and wealth reforms, thereby redistributing the excesses to the public purse for redistribution within the economy.
Also Taxation should be reformed to reduce the cost of tax collection individuals , businesses and the government itself , thereby reducing the total tax take considerably and revitalizing the national economies.
This taxation change in my opinion should scrap all existing taxes with the exception of a death tax and be replaced with a single natural resource tax , collected at as near source as possible at a rate consumerate to meet the demands of the state. The determination factors used to calculate the taxes would be the environmental detrimental impact theses resources have on the climate, planet and other Eco-systems.
This linked with welfare reform where all citizens would receive a wage for life to replace all other benefits and pensions and enable all citizens to control their own destiny and save millions in overly complicated system of handouts.
These tax and welfare reforms are as necessary as any structural monetary reforms to enable individuals and society to prosper on an equal, fair and transparent footing .