Draghi implied that EU can become the United States of Europe

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Mario Draghi, President of the European Central Bank, implied during a conference in Frankfurt that Europe took significant steps towards the “United States of Europe.”

On 22 January, ECB’s President attended the New Year’s Reception of the Frankfurt Chamber of Commerce. During his speech, Draghi underlined that 2012, was a year of exceptional uncertainty for Eurozone. In order to emphasise his point he quoted from the Economist’s annual publication “The World in 2012” which was saying that:
“If you were sitting down with a blank sheet of paper, you would advise the euro zone to complement its one-size-fits-all monetary policy by pooling sovereignty and creating new institutions. You would set up a European mini-IMF with enough funds to assist troubled countries that adjust their economies. A pan-European banking regulator and a bail-out fund could ensure that large European banks were not at the mercy of their vulnerable sovereign borrowers. […] And, to stop governments from exploiting these mechanisms, euro-zone countries would agree to submit their fiscal policies to the say-so of everyone else. It amounts to a blueprint for the United States of Europe. And it is utterly beyond reach.”
Draghi stressed that during 2012, all of the issues mentioned in the article were addressed. For that reason, ECB’s Italian President said that the ambition [for the United States of Europe] is not utterly beyond reach and for that reason he used the words of Walter Hallstein, the first President of the European Commission, who once said: that “anyone who does not believe in miracles in European matters is not a realist.”

(da http://www.neurope.eu, 24/01/2013)




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