The United Financial States of Europe
Thomas Pierre-Henri, Le Soir (in French) | April 1, 2010
The Greek crisis proves that a "halfway Europe" is not sustainable. ++ The implementation of the euro without any integrated economic framework was naïve. ++ Gaps among the EU member states were supposed to narrow thanks to both highly mobile capital and a workforce similar to the US. ++ As a last resort, the American federal state provides a safety net to weakened stayes in times of crisis. ++ Likewise, the German state already has such a system supporting developing countries. ++ The EU therefore should head towards financial federalism.
