Europe is set to become more federal under secret plans being drawn up in the capital of Brussels, according to Der Spiegel.The German paper reports that an economic government for the Euro zone is being designed and will be implemented as part of a post-Greece overhaul of the continent’s government.
The plan, developed by the German and French, is designed to sort out the problems of troubled states before they grow to large, and will target all Euro zone members and states which peg their currencies to the Euro, according to Der Spiegel.
There is the possibility that economic sanctions for financial profligacy will be included in the legislation, which will also seek to bring in order Euro zone economic discrepancies.
It seems likely that Merkel and Sarkozy are just waiting for Greece to show some backbone before they move forward with the grand federalization of the European economy.
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