S. Micossi: ONLY THE EUROPEAN PARLIAMENT CAN CONSTRUCT A POLITICAL UNION
In his 13 July editorial, Sergio Fabbrini commented on the results of the negotiations between Greece and leaders of the Eurozone, concluding that the Eurozone “not only does not function, but is on the verge of imploding.” It doesn’t work because intergovernmental systems cannot guarantee results, i.e. financial stability and growth. The framework implodes, Fabbrini sustains, because it lacks a constitutional treaty governing the relations between members and the resolution of disputes. The lack of this treaty makes possible the unthinkable—that one member state, Germany, can suggest at the Eurosummit the de facto expulsion of another member state. One cannot save the current framework without a forward leap toward a “euro-union,” a project which could be brought to completion following a conference in Italy, one on the order of the 1955 Conference of Messina, which opened the path for a European economic community.