The recent Greek debt crisis and the Chinese financial crisis have underlined the weakness of the European Union and its Eurozone that are still dominated by the national interests of individual states. The French Minister of the Economy - Emmanuel Macron - emphasized the need to create a strong European economic government with its own budget to avoid future economic crisis. This goal will be a crucial step towards a real European Federation based on four main unions: fiscal, banking, economic and political.
- French economy minister calls for full fiscal union in Eurozone Emmanuel Macron wants to "re-found the EU" and create a new economic government with control of its own budget (telegraph.co.uk)
- It's time for the EU's biggest reform, say France and Germany (telegraph.co.uk)