A new form of European union

Commentary feature. Is it possible for the eurozone to make the needed reforms in the near future? The time may now be too short and the irritation too great. But, conceptually, it seems clear what is needed: a swift and effective move towards an insurance and adjustment union. That is neither a federal union nor a transfer union. It is a way of making it possible for countries that remain largely sovereign to share a single currency. I do not know whether even this is economically and politically feasible. But if not that, what? And if not now, when?

ESO: Background information: Find other Commentary Features in ESO on Challenges facing EMU http://www.europeansources.info/advSearchLink?keyword=commentary%20feature%20emu%20challenges%20&searchOption=all

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