The proposed solution is to set up a de facto international central bank to regulate the financial markets and replace the IMF which, due to its dependency, primarily promotes the interests of large commercial banks. A procedure to bankrupt individual countries would allow them to get rid of unfair debt and continue to be part of the global markets but on their own terms, rather than in absolute dependency from the creditors. While this goes against the interests of the creditors, who control the financial system at the moment, it would add, paradoxically, stability to the system by equally distributing the risk among creditors and debtors. What is strangely missing from the discussion of remedies is taxation. Soros' seems to underestimate the decisive element of the increased velocity of capital.
Faster money means more money and faster money also means more volatility and instability.
This blind spot is even more surprising in the light of Soros' understanding of the nature of networks. He argues, for example, against the notion that networks have no center. The effect is distributed centralization. A typical phenomenon in a network environment. The Moral Crisis in the Age of Global Networks Underlying the financial crisis is a political crisis.