Political Union: Europe’s Defining Moment

Driven by an obvious loss of fiscal sovereignty on the part of debtor nations and a de facto loss of sovereignty on the part of creditor nations, the concept of deepening integration on fiscal policy and economic governance gained ground. Now, as of summer 2012, the old debate about a 'Political Union' is back. This policy brief reviews four proposals under debate which, despite their differences, all amount to a significant agenda of change, which could transform the EU in rather fundamental ways. Such deepening would pool more powers than ever before at the Union level.

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