More Calls For A Greater Centralized EU

The call from IMF managing director Dominic Strauss-Kahn's to centralise power in Europe is significant because the IMF will contribute a large portion of the Irish rescue Photo: Reuters

IMF's Dominique Strauss-Kahn Wants Fiscal And Reform Powers Given To Europe -- The Telegraph

A federal Europe, with more sovereign power ceded to the centre, is the best defence against any future crisis, the head of the International Monetary Fund has declared.

Warning that "the sovereign crisis is not over", Dominique Strauss-Kahn, the IMF managing director and a likely French presidential candidate, called on the European Union to move responsibility for fiscal discipline and structural reform to a central body that is free from the influences of member states.

The proposal from so powerful a figure will dismay Ireland and other peripheral euro-zone nations already fearful of a loss of sovereignty as the price of a bail-out. Ireland is expected to agree a rescue of up to €100bn (£85bn) within days, in the form of a low-cost loan to shore up the banks.

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My Comment: I have trouble seeing such measures being adopted ASAP. If they are to be adopted, they will be incremental and gradual .... stretched over a long period of time.

The elites in Europe have always wanted this type of central control .... even though they have created the environment that has helped shape the fiscal crisis that they/we are in at the moment. But even with most Europeans being opposed to this amalgamation, I still expect member states to go along because most of them are financially too broke to offer opposition. The days of sovereignty for many of these states are near an end .... and (sadly) most are not aware of it.