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"United States of Europe" (USE): EUROZONE - POLITICAL UNION? Germany weighs up federal Europe plan to end debt crisis

01 June 2012

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"The plan could see vast national debt and banking liabilities pooled – and then backed by the financial strength of Germany – in return for eurozone governments surrendering sovereignty over their budgets and fiscal policies to a central eurozone authority.... In return for yielding to the pressure to pay to save the euro, Berlin will insist on major steps towards a eurozone federation or political union with budgetary, fiscal, and scrutiny powers vested in Brussels and in the European Court of Justice, meaning vast transfers of sovereignty from member states."

See: Full article (The Guardian, link)

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