A Federal Europe: the way out of the crisis
A report of The Spinelli Group suggests a way to break the deadlock over the MFF. We recommend restructuring the EU budget into federal and confederal parts. Eurobonds could then be launched without changing the treaty or breaking the balanced budget rule, and at no extra cost to national treasuries. Only if the EU acts federally will it acquire the common fiscal policy it needs to invest in economic recovery.
Please find the report here