Saving the Euro Might Mean a United States of Europe
European leaders are drawing up a solution to the EU's fiscal crisis that would hand sovereignty over the budgets and fiscal policies of eurozone states to Germany in return for the pooling of national debt and banking liabilities. Brussels, France, Spain and Germany all support a federalized eurozone.
European leaders are drawing up a solution to the EU’s fiscal crisis that would hand sovereignty over the budgets and fiscal policies of eurozone states to Germany in return for the pooling of national debt and banking liabilities. Brussels, France, Spain and Germany all support a federalized eurozone.
The Guardian:
A “gang of four” – the European council president, the commission chief, the president of the European Central Bank and the head of the eurogroup of 17 finance ministers – has been charged with drafting the proposals for a deeper eurozone fiscal union, to be presented to an EU summit at the end of the month.
“You can’t demand eurobonds but not be prepared for the next step in European integration,” Germany’s chancellor, Angela Merkel, said at the weekend. “We won’t be able to create a successful currency like that and no one outside will lend us money any more.”
— Posted by Alexander Reed Kelly
Your support matters…Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Intelligence expert William Binney discusses the revelation that a widely used encryption service has been in government hands for decades.
The 70-year-old alliance has been fraying since the collapse of the Soviet Union. Donald Trump's presidency may finish it off altogether.
Chancellor Angela Merkel and other European leaders place flowers on the remains of the wall that divided the German capital for 28 years.
Members of the Extinction Rebellion movement demonstrate for more urgent action against climate change.
After teen climate activist Greta Thunberg shames them for their inaction, leaders claim they will do more but concede it's not enough.
Fissures emerge among world leaders over how to deal with Iran as the country's foreign minister arrives as a guest of the French president.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.