Nesthy Petecio

Europe mulls ‘fiscal union’

At the edge of the precipice in dealing with Greece and Spain’s banking crisis, European leaders are thinking about a radical step that could take integration further and lead to an unprecedented loss of sovereignty for member states.  The goal is for EU leaders to agree to develop a road map to “fiscal union” at a June 28-29 EU summit, signalling a major policy leap.

Read more on Reuters and how Germany is reacting on the Wall Street Journal