According to BloombergBusiness, French President Francois Hollande has said that the 19 countries using the euro need their own government complete with a budget and parliament to cooperate better and overcome the Greek crisis.
“Circumstances are leading us to accelerate,” Hollande said in an opinion piece published by the Journal du Dimanche last Sunday.
“What threatens us is not too much Europe, but a lack of it.”
In other words, what Hollande seems to be calling for is an end to EU soverign states and the creation of a “United States of Europe”.
However, the UK Independent opines that the new architecture proposed by Mr Hollande is unlikely to be agreed in full in the near future, if ever.
The Independent reckons that Hollande’s comments are, in part, a statement of intent that France will resist any attempt by Britain – and de facto by an increasingly assertive Germany – to impose a less ambitious and less “solidaire” form of the EU.