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Fiskalunion is worst of all worlds for Europe
She means prior vetting of fiscal plans. She means automatic fines, cuts in EU development funds, and loss of EU voting rights for alleged violators, all justiciable before the European Court. The correct term is 'Stability Union', as the Chancellor calls it at home. It certainly entails unprecedented intrusion into the internal affairs of sovereign states, but in one direction only: discipline, without transforming help. The Greeks have had a taste of this with EU commissars lodged in each ministry under the occupation terms of their loan package, and it may come back to bite Germany itself one day as the economic ... (full story)
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- giorgio79
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