from Wolf Street:
Since Europe’s sovereign debt problems exploded onto the scene in 2010 the European Union has masterfully exploited the crisis to strengthen its grip over the old continent. It has stripped once-proud, independent nations of the last vestiges of their economic sovereignty. It has also pulled off the long-cherished dream of banking union, which was quietly consummated last fall.
Now, with the help of Berlin and Paris, it is looking to complete the coup. And this time not in the shadows, but in broad daylight.
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