United States of Europe?
Financial integration is one major step along the road towards eventual political integration into one massive new federal state, the USE (United States of Europe), and yesterday a significant move was made in this direction: Europe’s finance ministers have taken another major step towards closer integration, with a significant transfer of authority from national governments to the ECB, he says.
The EU had already agreed that the ECB would act as chief supervisor of eurozone banks. But the deal gives the ECB powers to close down eurozone banks that do not follow the rules. It also . . . → Read More: CuriosityCat: Europe takes another big step towards the United States of Europe
The European Union
A struggle for the future of Europe is being waged right now by the politicians of the EU.
Most of the fighting is being done by the leaders of France, Germany and Britain (the Big Three of Europe), with the other medium sized states putting the boot in every now and then but largely shouting encouragement from the sidelines. The big battle that is shaping up is over the contours of the future Europe. Germany: A tighter Union or Else: And the issue has been framed as a choice between two stark contracts: a move towards . . . → Read More: CuriosityCat: Anglo-Franco-German ménage à trois: A Federal Europe or a confederation of Nation States?
It’s an ill wind that blows no-one any good, and the eurozone euro crisis is not such a wind, it seems. Having taken major steps in past decades to set up the European Union, including the euro and eurozone, the European states are now being asked to take a giant leap forward. European authorities have unveiled their vision for the future, which gives them much greater powers. It includes the creation of a European treasury, which would have powers over national budgets… The 10-year plan is designed to strengthen the eurozone and prevent future crises, but critics say it will . . . → Read More: CuriosityCat: The New Roadmap to The United States of Europe (USE)