The Piggy Bank of EU

More European centralization is in the works:  Euro zone officials are devising a plan for the central bank.  This will allow banks to be bailed out directly, without going through the national governments.  So it seems that the crisis has not moved Europe in the direction of disintegration, but instead moving it in the direction of more centralized control.  The Fed was conceived in 1913; its European counterpart may come into existence a 100 years later.   // *

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