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Full Integration Is Europe's Only Option

Nouriel Roubini and Nicolas Berggruen, The Guardian | September 8, 2011

With more European countries falling into financial turmoil, it is time the EU took significant steps towards greater political and economic integration. ++ The current European crisis shows that a monetary union cannot function without a common fiscal and coordinated economic policy. ++ Strengthening European federalism is the only way to guarantee long-term stability for the EU and its common currency. ++ Public support for further integration can only be achieved by empowering European institutions and making them more democratic.