Europe Needs Federalization
Opinion: (Floyd Norris, The New York Times): “If there was one lesson to be learned from the European sovereign debt crisis, it was that monetary union by itself cannot work indefinitely. If Europe really wants to preserve the advantages of the euro currency, it will need far more fiscal and economic integration. Nations will have to give up a significant amount of sovereignty.
“European leaders seem to be willing to accept that reality. But persuading publics may be far more difficult.
“Those realities will continue to pressure Europeans toward either abandoning the currency union or accepting much more financial union. For now, anyway, they are choosing the latter course.”
My Comment: But any alliance calls for the consent of the citizens, and that requires educating people in the spirit of considering all society as a single system. Otherwise, the government will not have the support of its citizens. But it is impossible to persuade the public to go against their own interests in one go. This requires multiple, extensive explanations of the general condition and its single solution: to bring the EU countries to general (financial) guarantee.
[55086]
Related Material:
A Simple Choice: Solidarity Or The Collapse Of Europe
Europe’s Shaky Foundations
The Euro Is Breaking Down
