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The EU crosses the Rubicon as it inches toward fiscal union

All along, there has been a dichotomy between those who saw the EU as being on a journey towards a United States of Europe and those who saw it as destined to remain a federation of sovereign states.

It was always envisaged by its proponents that monetary union would be a key step along the road to full union, including the pooling of past debts, the common issue of new debt, a shared tax base and, eventually, political union. 

Indeed, this was also recognised by its opponents, including in this country, which is precisely why there was so much hostility here towards joining the euro.

Mind you, after Julius Caesar crossed the Rubicon in 49BC, things didn’t exactly turn out too well.

Rogerl Bootle Telegraph 14 June 2020

Crossing the Rubicon

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