Obviously shared currency was one major step towards the elimination of national sovereignty in Europe.
The next step will be a shared Treasury, so that all nations are responsible (to some extent) for the health of all the other nations.
Eurogroup Chairman Jean-Claude Juncker is pushing the idea of euro-wide bonds, which have never been offered before.
Obviously each country would still have to borrow on its own… but the existence of EU-wide borrowing would be a major step towards that shared treasury, and thus a reduction of individual nationhood.
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