EU-Summit can Create Fund for Eurozone and Arab States

By Stichting Urban Organism 2009, PRNE
Wednesday, March 9, 2011

Converting 500 Euro Bills into Bonds Yields EUR 285 bln. for TCS Fund

THE HAGUE, March 10, 2011 - During the extra EU summit in Brussels on March 11, the seventeen
Eurozone states can create an aid fund both for assisting ailing countries
like Ireland, Greece, Portugal and Spain and for helping with the economic
reconstruction of Arab states like Tunisia, Egypt and soon Libya. Recalling
all 570 million circulating bills of EUR500 and converting them into European
state bonds will create an emergency fund of EUR 285 billion: the TCS Fund
(The Children's Sustainability Fund).

During the March 22 summit, the Euro-nations will discuss, inter alia,
the euro emergency fund and tougher sanctions for members states that violate
the budget rules. Decisions have to be taken at the end of March.

The man who spawned the TCS Fund, Jos Hendriks, says Europe can create a
huge fund with a simple political decision, without taxpayers in the member
states having to foot the bill. "The 500 euro bills are not used as tender,
but are often stored by corrupt regimes. TV footage showed how former
president Ben Ali of Tunisia kept millions of 500 euro bills in his
safe. The TCS Fund puts an end to the use of these bills as criminal money"
he says.

His idea is as simple as it is feasible. The national central banks of
Europe should recall the 500 euro bills and convert them into bonds. They can
then loan the money against reasonable interest rates. Not just to southern
European countries. Hendriks: "The Arab countries that are now witnessing
revolutions have a majority of young people who are looking for perspectives
and economic progress. A Marshall Plan is needed for these countries, which
can be financed from the TCS Fund."

He sees a leading role for the Netherlands and the ABN AMRO bank in
managing the fund. His idea to recall 500 euro bills was born when he
investigated the take-over of ABN AMRO by the Royal Bank of Scotland, Fortis
and Santander and questioned the origins of the take-over sum. Hendriks: "By
making money with the TCS Fund, ABN AMRO can repay its 30 billion debt to the
Dutch taxpayer."

Hendriks says his plan is getting increasing support. He has raised and
discussed his idea with various politicians. "I have talked about this with
Prime Minister Mark Rutte and it has been proposed to Finance Minister Jan
Kees de Jager
en European president Herman Van Rompuy. Actually, you should
see it as a backing for Mark Rutte during the upcoming EU summit," says

More information:

Contact: Jos Hendriks, +31-6-55102879, info at .

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