In an article titled 'Thinking the Unthinkable in Europe'. billionaire George Soros promotes the idea of a European political entity, unelected I'm sure, that would have greater authority than the present EU because it would control the finances of all Europe and also have the power of taxation. In Europe national Sovereignty has already been greatly eroded, first under the EEC (European Economic Community), then the EU and finally the EMU (the European Monetary Union). The next step as suggested by the wise and sagacious Mr. Soros would be to hand over complete control of all EU nations to his banker buddies from the IMF etal who of course would bring health, wealth and eternal prosperity to all Europe (or not!) We know a Global Economic Union will materialize one day and I believe it will be from the ashes of the present Economic System, which is being deliberately sabotaged, with full force in Europe and the US. So the only logical conclusion that can be reached is that there will be no recovery for the Global Economy; things will keep on getting worse, much worse and at an ever faster pace. Europe will likely be the fist domino to fall, the US probably the last but no nation will escape and the concept of independent nations will also die along with the Economy. Jesus forewarned that this time will be unlike any in history in many different aspects, and how true! For the first time in history all nations will fall together to rise up no longer as independent nations but as members of a centrally controlled Economic Union that will be more totalitarian the Egypt under the Pharaohs, then Rome under the Caesars, then Germany under the Nazis or The Soviet Union under the Stalinists. The default of Greece will mark the beginning of the new era of A Brave New World!
The following is a quote from the article by George Soros, 'Thinking the Unthinkable in Europe'; click on link to read the full article.
Moreover, some banks in the defaulting countries would have to be kept functioning in order to prevent economic collapse. At the same time, the European banking system would have to be recapitalized and put under European, as distinct from national, supervision. Finally, government bonds issued by the eurozone’s other deficit countries would have to be protected from contagion. (The last two requirements would apply even if no country defaulted.)
All of this would cost money, but, under the existing arrangements agreed by the eurozone’s national leaders, no more money is to be found. So there is no alternative but to create the missing component: a European treasury with the power to tax and, therefore, to borrow. This would require a new treaty, transforming the European Financial Stability Facility (EFSF) into a full-fledged treasury.
Welcome to the United States of Europe, just a hop, skip and a jump away from the United States of the World. We've known for decades that this was coming but to finally see it take shape is a sight to behold. People are living in historic times to put it mildly, and history passes them by as they sit hypnotized in front of the TV watching football or some other meaningless drivel. They will wake up when the Gestapo comes knocking on their door at 3AM; tragically by then it will be too late. The BRAVE NEW WORLD has arrived!