June 25, 2012
The crisis is like an artichoke: you remove a leave and you find another leave and then the heart.
You solve the problem of Ireland and then you find Portugal, Spain, then..You speak of a banking union and then you have to deal with the Fiscal Union, then with the Monetary Union.. This a never-ending debate.
The main problem is that the Eurozone is a strange animal, without a real political government. This is the key issue. Until we do not solve this problem, no long term solution will be found and the sovereign debt markets will be under strain… For this reason, markets have reacted badly after the announce of a bail-out programme for the Spanish banks, Markets and citizens want a clear political vision of the future.
Angela Merkel has reiterated her willingness to go further on the path of a more politically integrated Union: she has always said that before pooling together national debt we need common political structures. In other words, fiscal solidarity should be built upon political integration.
We should taken Merkel’s words seriously. We, federalists, support the three Unions: the Economic, Fiscal and Political Union. Shall we go, Ms Merkel?Author : Gianni PITTELLA MEP