Read few comments.
1. Do you think Hollande’s proposals about the economic government with its own budget and right to borrow are only political in the sense he needed something strong to counter the recession news or that this is really Paris’ plans?
2. Do you consider it realistic? Can he eventually win the support of the other Eurozone countries for such proposal?
Robert Ladrech, Professor of European Politics, School of Politics, International Relations & Philosophy, Keele University
1. I think it is both; in other words, he needed to have an initiative to counter the accumulating bad news, especially economic, and second, as a French Socialists, this proposition which puts some content into notions of political union are consistent with the general line of the party. Added details of course would be due, and to assuage his left-wing, he would need to show that such an economic government was not simply an extension of the ECB. Bear in mind also that German elections are only 4 months away, so it positions France to keep this idea alive whichever side wins.
2. It is not realistic in the short term, but if all the proposed changes of the past year or two become the basis of a new treaty – that is, further development to the Fiscal compact – then a model of such a ‘deepened’ EU-core needs to be articulated. In this respect, say a few years from now, and if the economy turns around, then maybe this will not sound too far-fetched.
(Thanks to @SunWuKchung for providing this).