The European Sovereign And Banking Crisis Presents A Life Time Opportunity To Deepen Integration, Economist Says

Writing in The Wall Street Pit, Global Economist Charles Wyplosz of, questions, Is the Worst of Europe’s Crisis Behind Us? Or Yet to Come? He states:

“One interpretation of recent policy responses is that crises offer unique opportunities to transform existing arrangements. In this view, the unprecedented bailouts offer a unique chance to take a definitive step to some form of fiscal federalism as a way of making what the late Padoa-Schioppa called “a currency without a State” less of an oddity. This is an audacious bet. As any bet, it holds great potential rewards but it also carries risk.”

“Continuing to raise the ante in 2011 may fulfil the dreams of those who have seen the euro as a step towards deeper integration. It could as well trigger a disintegration of the patiently achieved construction that started in 1958 with the Treaty of Rome.”

I believe  Out Of The Implosion Of The European Debt Crisis A Sovereign And Seignior Will Arise To Govern Europe


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