Financial Stability News

Flashing news about financial stability and central banking

EU moving towards political union

According to Monti, who spoke at the Peterson Institute in Wash DC today …

“We are moving perhaps even without being aware towards some form of political union”, Mr Monti said, adding that the Greek crisis has helped this along.

Interestingly, Monti is in the US while all his colleagues are in Brussels for tonight’s EU Council meeting. The distance allowed Monti to plead for flexibility for Greece. According to this WSJ story he urged the Trokia to award Greece an expanded loan package even with “a minimum of compliance”

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