ML-Implode News - 'Father of the euro' fears EU superstate by the back door

Professor Otmar Issing, the chief architect of monetary union through its early years, said it would be "dangerous" to transfer control over tax and spending to the EU federal level before full political union has been established first on democratic foundations.
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The proposals for an EMU finance ministry emerged in a paper by the heads of the Commission, Council, Parliament, Eurogroup, and ECB in June, a document known as the "Five Presidents Report".
It will start with an advisory European fiscal board and a strategic investment fund with enhanced powers, clearly a finance ministry in embryo. It will graduate towards a "euro area Treasury" from 2017 onwards, anchored in the EU treaties.

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'Father of the euro' fears EU superstate by the back door