Draghi: ‘United States of Europe’ not necessary to save the euro

Report of an opinion piece by Mario Draghi, President of the European Central Bank published in August 2012. He rejected 'binary choices' for the eurozone's future, dismissing calls for a 'United States of Europe' as well as a return to national currencies to stop the sovereign debt crisis in the eurozone.

He said 'What we need is a gradual and structured effort to complete the EMU [Economic and Monetary Union]'.

ESO: Background information: Germany's competing visions of Europe http://www.europeansources.info/record/germanys-competing-visions-of-europe/

ESO: Background information: Germany Considers Holding EU Referendum http://www.europeansources.info/record/germany-considers-holding-eu-referendum/

Council of the European Union: Towards a genuine Economic and Monetary Union. Report by President of the European Council Herman Van Rompuy, June 2012 (PRES/12/296) http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/131201.pdf

ECB: Speech, 29.8.12: The future of the euro: stability through change. Contribution from Mario Draghi, President of the ECB, Published in 'Die Zeit', 29 August 2012 http://www.ecb.int/press/key/date/2012/html/sp120829.en.html

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