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June 6th, 2012 
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Germany weighs up federal Europe plan to end debt crisis
Guardian – Europe’s leaders appear to be edging towards an ambitious and controversial new blueprint for a federalised eurozone after Paris and Brussels threw their weight behind Spain’s pleas for an EU rescue of its beleaguered banks. At the start of three weeks likely to be crucial to the survival of the euro, the new French government and the European commission voiced strong backing for a new eurozone “banking union” to save the single currency. The plan could see vast national debt and banking liabilities pooled – and then backed by the financial strength of Germany – in return for eurozone governments surrendering sovereignty over their budgets and fiscal policies to a central eurozone authority. Read article
Related article: G7 crisis talks as Spain says borrowing lines closing off
Tags: 2nd Great Depression, debt wealth, Europe, New World Order, politics
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