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As European leaders gather once again in Brussels to discuss the eurozone crisis, a shift to an anti-austerity stance is urgently required. Yet whatever the fate of the single currency, the current crisis is set to transform the European Union. If the euro is kept intact, it will be because of a shift to more federal structures within the eurozone. If it fractures, there will need to be a serious redesign, in a federal direction, if what’s left of the euro is to be saved. In either case, we will need new thinking about the way the European Union works.
http://link.ft.com/r/KC2844/
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