Opinion (Jens Weidmann, head of Deutsche Bundesbank): “A broad deepening of fiscal integration leading toward a ‘fiscal union’ in the euro zone requires deeper public support than currently exists both inside and outside Germany, European Central Bank Governing Council member Jens Weidmann said Monday [June 17].
“Speaking at a reception sponsored by the local chamber of commerce, Mr. Weidmann urged a ‘realistic’ approach such as deepening of the fiscal policies in the single currency zone. He said that support among the broader public for such a move in the face of the euro zone crisis at present is seen ‘neither in Germany nor in partner countries.’ Mr. Weidmann is also head of the Deutsche Bundesbank.”
“Elsewhere in Europe, Bundesbank chief and ECB official Jens Weidmann claimed that there was nothing more the central bank could do to help solve the region’s crisis while speaking in Paris. He said the ECB Governing Council has agreed that monetary policy cannot solve the crisis and that the bank has already gone to great lengths to try to mitigate the damage. Now, Weidmann said, it is up to individual governments to make the necessary structural reforms.” Source: International Business Times
My Comment: Gradually life will force us to accept the need for full integration as a mandatory condition to overcome the crisis. Nature will compel humanity to unite. We are weak and dependent on it. So, it is better to become wiser in advance and recognize that salvation and prosperity are in unification.
We must proceed with the full change of the structure of civilization: the satisfaction of all basic needs and not more and all our other opportunities to be directed only to the creation of a single organism of unified civilization.