Fiscal union will never fix a dysfunctional eurozone, warns ex-IMF chief Blanchard

``Mr Blanchard, who departed the IMF two weeks ago, said radical visions for a full-blown "fiscal union" would not solve fundamental tensions at the heart of the euro... Although pooling common funds, giving Brussels tax and spending powers, and creating a banking union were "essential" reforms, they would still not make the "euro function smoothly even in the best of cases", said the Frenchman.''