The plan was always to use a debt crisis to turn the monetary union into a fiscal union. I guess therein lies the fatalism. But fiscal unions were much easier t

The plan was always to use a debt crisis to turn the monetary union into a fiscal union. I guess therein lies the fatalism. But fiscal unions were much easier to form when money was gold backed and financialization wasn’t so rampant. Plus people have seen the effects of Germany being able to export unemployment via its surplus is it upsetting other Europeans and building anti-EU sentiment. In my view the debt crisis is structurally baked in and guaranteed to happen, what I’m uncertain about is the extent of the backlash EU leadership will receive from the attempt at normalizing fiscal policy.