Soros urges action on EU reform

BILLIONAIRE financier and investment guru George Soros last night called on the Irish government to use the EU presidency to push for a single EU foreign affairs minister.

Speaking to students at Dublin’s Trinity College, Dr Soros said Ireland should leave its mark on the presidency by implementing the reforms necessary for Europe to contribute effectively to world stability.

This would help the development of emerging nations on the eastern fringe of the enlarged EU and act as a counterbalance to American dominance around the globe, he said.

The EU had already shown the ability to gain influence outside its borders by admitting eastern European countries to the union in return for democratic and human rights reforms.

Dr Soros said countries such as the Ukraine and Georgia would also benefit from EU support. He said while EU accession was unlikely to be offered to these countries, other forms of support such as development aid and co-operation were necessary. He added that the EU had failed to prevent civil war in the Balkans and needed to be better prepared to intervene in conflicts close to its borders before they reached such a serious stage.

Dr Soros was strongly critical of the Bush administration in America and said its reaction to the terrorist attacks on September 11 2001 had gone against governments and public opinion around the world.

He described the invasion of Iraq as “a tremendous blunder” and said it was important to reject the Bush administration in the US presidential election in November.

Dr Soros has pledged $15 million to help the campaign to defeat Mr Bush. He donates approximately $500m to good causes each year through his charitable trust, the Soros foundation.

Dr Soros compared the pursuit of American military dominance to a stock market bubble that could not last unless the US recognised the need for its actions on the world stage to be legal and legitimate.

Dr Soros was speaking at an event organised by the Institute for International Integration Studies, a Trinity-based research group that aims to promote understanding of regional and global integration. It involves academics from the fields of business, economics, history, politics and law.