The existential test of Europe’s monetary union and political project is yet to come
Emergency support winds down in the most vulnerable countries and political tempers fray everywhere.
The question is whether the EU’s confederate states will bite the constitutional bullet and fold their futures together in a genuine fiscal debt union backed by treaty change, or continue rolling out half-measures that never quite solve the problem.
Ambrose Evans-Pritchard Telegraph 28 October 2020
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