Either political integration catches up with economic integration, or economic integration needs to be scaled back.
As long as this decision is evaded, the EU will remain dysfunctional.
Dani Rodrik, Project Syndicate 14 March 2017
European Commission plan for a eurozone fiscal union at Google
The European Commission is to unveil radical plans for a eurozone fiscal union,
pushing for an embryonic treasury with powers to fight economic recessions and to cope with shocks in hard-hit regions.
Ambrose Evans-Pritchard, 22 May 2017
The EU budget authority will be backed by a joint eurozone unemployment fund, akin to social security in the US.
The proposal entails an unprecedented level of shared risk among the EU eurozone states and marks a profound shift in thinking after years of rigid austerity and lack of investment.
It would come under the "democratic oversight" of the European Parliament, giving it crucial legitimacy at federal level.
This would rein in the over-mighty Eurogroup that effectively runs the eurozone today and acts as a law unto itself, operating in total secrecy and answering to no elected body.
Fiscal union will never fix a dysfunctional eurozone, warns ex-IMF chief Blanchard
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