In the News (from The Financial Times): “From Mr George Soros and 95 others: Sir, the euro crisis needs a solution, now. The current measures are too little and too late and are precipitating global financial turmoil. The euro is far from perfect, as this crisis has revealed. But the answer is to fix its faults rather than allowing it to undermine and perhaps destroy the global financial system.
“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.”
My Comment: None of these proposals can be realized in practice because they are based on the previous state of man and society: “an individualist and egoist among his own kind.” And today it is already “an individualist and egoist in the network of mutual guarantee.”
If we do not take into account that the world has become globally dependent and integrally connected, not by our economic and industrial trade ties, but within itself, due to its development, we won’t succeed in anything and will always shoot off target. When solving any personal and common problems, we have to take into account the new conditions and our interdependence.