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Posted on 05/22/2012 2:56:52 PM PDT by Olog-hai
The European Commission has said it will soon bring forward plans for an economic and political union it says is necessary for the creation of debt-mutualizing eurobonds—one of the most controversial proposed solutions to the current eurozone crisis.
"We need to reflect what kind of European union would be required to deepen economic and political integration, for instance so that joint issuance of debt would make sense for all member states sharing the single currency," economics commissioner Olli Rehn told MEPs on Tuesday (22 May).
He said the commission would "soon" come up with a "medium to long term roadmap" outlining the necessary deeper fiscal and economic integration that would minimize moral hazard—member states running up debt because they know it will be paid by others—and ensure "fiscal sustainability."
"In other words," the commissioner added, "the features of an economic and political union required to make mutualization rational for all."
With his statement, Rehn has put the eurobonds issue firmly back on the table just ahead of a meeting of EU leaders in Brussels on Wednesday (23 May) to discuss growth strategies for Europe. …
The summit has been billed by EU president Herman Van Rompuy—who has in the past also said that mutualization of euro debt must be discussed—as a no-decisions but no-taboos get-together.
Meanwhile, the institutional changes implied by Rehn's statement to MEPs have a potentially more receptive audience in Germany and beyond. …
(Excerpt) Read more at euobserver.com ...
BWAAA HAHAHAHAHA. Ya know these guys just don’t get it. If they think Germany is stupid enough to sign onto any such thing and pay up for everyone else they’ve got another thing coming.
A decade too late.
Yes totally and utterly erase national boundaries, that will
fix everything
Looks like Europe is still on schedule to collapse into one of its cyclic genocidal wars again soon.
The more things change, the more they stay the same.
What is?
Funfsich Reich.
They should abolish the EU and the Euro
Forcing total political union within the EU.
I meant Fiersich Reich, of course.
When faced with abject failure of your initiative, DOUBLE DOWN.
What it won’t fix is that the masses of Euro-takers will still want to be takers from the limited producers still left.
And that’s really the crux of the problem...this is no fix for that. Kick the can down the road by pillaging Germany. What do you think the Germans will think of that?
Any time is too early for that to happen.
When it comes to the EU, be assured that Obama’s a follower, not a leader. It was he that expressed admiration for European leadership back in 2009, instead of asserting any kind of leadership over them.
Once again laying their cards out there for all to see... their plans move forward with the idea of still making the US less powerful by uniting thier nations into one powerhouse....economically and politically.
Interesting that Greece got a surprise 'billions' prop up this week.....(just days after JP Morgan cried wolf)....by the Central Banks.
I will remain fixed that there's mega dollars being floated world wide to prop up and leverage those who are fighting for supremecy in this International scheme to formulate a One World Governance....and that very soon.
He's the place holder til Romney gets in....who will play in and of the Global Agenda...and that with authority. Few nation leaders will attempt to undercut Romneys plans....he's got people in every nation ready for action when needed. His church leadership has attended to that.
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