"special drawing rights or some other form of international reserves on a large scale"

Soros sounding a lot like Sachs in the FT:

"The global financial system as it is currently constituted is characterised by a pernicious asymmetry. The financial authorities of the developed countries are in charge and they will do whatever it takes to prevent the system from collapsing. They are, however, less concerned with the fate of countries at the periphery. As a result, the system provides less stability and protection for those countries than for the countries at the centre. This asymmetry – which is enshrined in the veto rights the US enjoys in the International Monetary Fund, explains why the US has been able to run up an ever-increasing current account deficit over the past quarter of a century. The so-called Washington consensus imposed strict market discipline on other countries but the US was exempt from it.

Here' his proposals:
1) IMF aid on easier terms ( Fine )
2) Swap lines from big countries to small countries ( Fine )
3) Credit for small countries to have a stimulus plan ( ? )
4) Some unspecified big fund ( ? )

I have to say this about Soros. As with his stimulus proposals for the U.S., he doesn't like to deal in specifics. He's more of a big picture guy I guess, but nothing he says differs from a lot I read. It must be that he lends some kind of imprimatur to these proposals.

The other thing is that statements like this are useless:

"The approach is right but it will be too little, too late"

"Unfortunately the authorities are always lagging behind events; that is why the financial crisis is spinning out of control."

" but there is not much point in holding such a meeting unless the US is serious about supporting a global rescue effort."