European Exceptionalism

Fiscal and certain other economic policies in eurozone countries should be subject to activation of a “federation by exception.” Instead of imposing fines on countries that transgress rules and ignore recommendations, the European authorities should decide directly on measures to be implemented in the countries concerned.

PARIS – The creation of Europe’s economic and monetary union is unique in the history of sovereign states. The eurozone constitutes a “society of states” of a completely new type, one that transcends the traditional Westphalian concept of sovereignty.

https://prosyn.org/NbsH8HT