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MizuFlow · 3418 days ago · link · · parent · post: France’s Hollande calls for ‘eurozone government’
I think I would agree that this probably should have been the next obvious step in their plan which is coming decades too late in implementation. I read an article somewhere that the Optimum Currency Area model (eg. the EU) is supposed to have both monetary and fiscal union to work as it theoretically should. However, I can't even begin to imagine how fiscal union like this is gonna happen in such a culturally and politically diverse continent like Europe. And if they were supposed to do it all along, why so late? The United States is supposed to be an example of the OCA thing working, but Europe is a different beast entirely. I'm no expert, but I think the EU isn't looking too hot for the future.