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The European Commission’s bureaucrats are wetting their pants over the renewed talk of a greater fiscal union between EU member states. This is the moment they have dreamed of. Instead of being useless functionaries (as seen by most EU citizens), they could have more importance by having control on a supranational basis over member states. [...] This research note from DeutscheBank Research points out the obvious, that there is nothing timely the EU can do to create a fiscal and banking union among its members. Such union is what the pundits have been saying is needed to really “solve” their current crisis. Let’s see, that leaves … money printing. Euro area: [...] |
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