Ingredients of a European political union / Why debt rescues will boost the scenario of a closer union

Commentary feature. The author writes 'The existing political union may be too strong to blow up, but it is also too weak to function properly. For sustainability the EU will need to take further steps towards political integration. The problem will become acute when Greece actually defaults'. He discusses what type of stregthening of the political union is needed to deal with these economic and financial crisis in the eurozone.

ESO: Background information: Trichet seeks single EU finance ministry http://www.europeansources.info/record/trichet-seeks-single-eu-finance-ministry/

ESO: Background information: Trichet inflames Berlin dispute / Germany refuses to back down on Greece http://www.europeansources.info/record/trichet-inflames-berlin-dispute-germany-refuses-to-back-down-on-greece/

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