The fact that monetary union without fiscal union would be unworkable the first time an economic crisis hit, and force federalism on the EU, has always been the barely concealed goal of the EMU project.
The general crisis that began in 2008 has yielded such good results for EU -- the Irish terrorized into signing the EU constitution, Iceland forced into the EU as a feudal supplicant, now a de facto European Ministry of Finance -- that you'd almost imagine these kind of disruptions to world order were planned on purpose to "move history forwards".
- commenter on Ambrose Evans Pritchard blog
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