It's looks like George Osborne agrees with me
(from BBC News - George Osborne says time is short to save the euro)
The consensus seems to be that this can go one of two ways, either the euro disintegrates or there is a move towards a tighter fiscal union, which I think requires some sort of federal tax system and federal budget (which we already have to some degree). Although both scenarios seemed unlikely a few years ago one or the other now seems inevitable. It seems that on here at least I'm alone in thinking that the second option will come to pass with most of you thinking it's an impossibility. Anybody care to explain why?
Crucially, my European colleagues need to accept the remorseless logic of monetary union that leads from a single currency to greater fiscal integration.
The consensus seems to be that this can go one of two ways, either the euro disintegrates or there is a move towards a tighter fiscal union, which I think requires some sort of federal tax system and federal budget (which we already have to some degree). Although both scenarios seemed unlikely a few years ago one or the other now seems inevitable. It seems that on here at least I'm alone in thinking that the second option will come to pass with most of you thinking it's an impossibility. Anybody care to explain why?
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