The reason this is important is that a new, stronger, more unified nation could emerge from the current economic crisis, as nations yield sovereignty in exchange for financial assistance.
Here is the deal:
The leaked memo, written by the German foreign office, discloses radical plans for an intrusive new European body that will be able to take over the economies of beleaguered eurozone countries.The situation is that Great Britain is being asked to accept the changes as is, with no tradeoffs, which would be opposed by Tory MPs.
It discloses that the EU’s largest economy is also preparing for other European countries, which are too large to be bailed out, to default on their debts — effectively going bankrupt. It will prompt fears that German plans to deal with the eurozone crisis involve an erosion of national sovereignty that could pave the way for a European “super state” with its own tax and spending plans set in Brussels.
Regards — Cliff