Genuine Euro-federalism may be a good option for solving the current crisis, but does not correspond to German Finance Minister Wolfgang Schäuble’s expectations, the magazine wrote.
In this case, Schäuble “would not be a chef, but a waiter,” the article said.
The most important component of a genuine federal system is not firm commitment to a particular policy, but a commitment to a certain democratic decision-making process.
Alternately, it could be a European Federation outside the EU with a corresponding Euro Parliament, Euro Finance Minister and European budgetary policy.
Münchau argues that unlike Schäuble's federal system, this version would be symmetric. It would correct the prevailing trend toward imbalances and work from an economic perspective.
However, whether this alternative has a chance, remains questionable. Genuine federalism would be not a further mini-step towards a united Europe, but a fundamental measure which not all European countries are ready to undertake, the columnist wrote.
