Former German Leader Calls for 'United States of Europe'

Sunday, 04 Sep 2011 11:37 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
BERLIN — Former German Chancellor Gerhard Schroeder on Sunday called for the creation of a "United States of Europe", saying the bloc needed a common government to avoid future economic crises.

Schroeder, a Social Democrat who ran the country from 1998 to 2005, said in an interview with Der Spiegel that European Union leaders were wrong to expect the euro to drive the bloc on its own.

"The current crisis makes it relentlessly clear that we cannot have a common currency zone without a common fiscal, economic and social policy," Schroeder said.

He added: "We will have to give up national sovereignty."

"From the European Commission, we should make a government which would be supervised by the European Parliament. And that means the United States of Europe."

Schroeder, who nurtured a close relationship with France during his leadership, welcomed an initiative launched by German Chancellor Angela Merkel and French President Nicolas Sarkozy to move toward a fiscal union in 2012.

Their proposal, which would mean giving up sovereignty over budgetary policies with the aim to shore up the 17-nation currency union, has received a lukewarm response from other euro zone countries.

"Germany and France have sent a strong signal with the plan for a European economic government, if it is meant seriously and receives suitable authority such as a European finance minister," Schroeder said.

"That is the correct way forward and the precondition for the correct funding -- euro bonds," he said.

Germany, which enjoys lower costs for issuing debt than its single currency partners, has led resistance to joint euro-denominated bonds.

"It is a huge bond market -- speculators would no longer harbour hopes of splitting it up," Schroeder said.

In order to initiate these changes, Schroeder said EU member states would have to return to the negotiating table and hammer out a new treaty to replace the one agreed in Lisbon that currently serves as the bloc's institutional framework.

"In the crisis lies a real opportunity to achieve a political union in Europe," he said.

Schroeder, who says the EU can only respond to growing competition with the United States and Asia by being fully united, has long pointed to Britain as a hurdle to further EU integration.

"Great Britain causes the greatest problems. (It is) not in the euro but the British nevertheless always want to participate when it comes to designing a European economic area," he said. "That doesn't work."

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Medicare May Cover End-of-Life 'Death Panel' Talks

Monday, 01 Sep 2014 10:56 AM

Five years after the political firestorm over 'death panels,' the issue of paying doctors to talk to patients about end- . . .

Militia Group Has Pool Party at US Embassy in Tripoli

Monday, 01 Sep 2014 10:02 AM

Members of a militia group in Libya posted a video of a pool party it had at the U.S. embassy in Tripoli.
 . . .

Returning Lawmakers Will Get Briefing on Ukraine, Islamic State

Monday, 01 Sep 2014 09:19 AM

Members of the House Armed Services Committee, returning after the five-week August recess, will get a classified briefi . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved