Stelzenmüller: Fiscal and economic union, at least for the eurozone.
The battle over the third Greek bailout has provided a moment of terrifying clarity.
The crisis is not just about the right level of sales taxes on islands in the Aegean, Germans’ capacity for empathy, or even the future of the euro. It is about the future of European integration itself — and of German leadership in Europe.
Fiscal and economic union, at least for the eurozone.
The quid pro quo will be structural reforms and responsible budget policies, to reassure Germany, the Nordics, the Netherlands and eastern Europe. In return, France and the southern Europeans should have their wish of debt mutualisation, solidarity and stimulus.
Europe also needs an immigration policy. Given its dire demographics, the continent ought to be grateful for refugees. They are tomorrow’s workforce.
Constanze Stelzenmüller, FT August 10, 2015
The writer is a senior fellow at the Brookings Institution
Full text
"ever closer union" - The United States of Europe
The crisis is not just about the right level of sales taxes on islands in the Aegean, Germans’ capacity for empathy, or even the future of the euro. It is about the future of European integration itself — and of German leadership in Europe.
Fiscal and economic union, at least for the eurozone.
The quid pro quo will be structural reforms and responsible budget policies, to reassure Germany, the Nordics, the Netherlands and eastern Europe. In return, France and the southern Europeans should have their wish of debt mutualisation, solidarity and stimulus.
Europe also needs an immigration policy. Given its dire demographics, the continent ought to be grateful for refugees. They are tomorrow’s workforce.
Constanze Stelzenmüller, FT August 10, 2015
The writer is a senior fellow at the Brookings Institution
Full text
"ever closer union" - The United States of Europe
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