In this interview Wolfgang Schauble provides his view of fiscal union in Europe that would cede more authority to Brussels. Economic policy would be developed in Brussels and there would be a directly elected president of the union. The european parliament would also be given more authority. It might look something like it does in Germany or in the US Senate.
He believes that European prosperity depends on a European union. Globalization makes it difficult for any country to achieve prosperity on its own. The current crisis might enable more integration to occur than would have been possible before the crisis. He gave an example of how Germany itself was integrated after the fall of the Berlin Wall. He did not believe that this would be achieved as fast as it did.
It is encouraging to get Schauble's views on the crisis and on European integration. He has been viewed in the media as one of the roadblocks to integration.
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