Adopting Quote by Joschka Fischer
“We already have a federation. The 11, soon to be 12, member States adopting the euro have already given up part of their sovereignty, monetary sovereignty, and formed a monetary union, and that is the first step towards a federation.”
About This Quote
Source Speech: European Union integration discussion, 1999
Forming a monetary union is a step toward political federation.
In simple terms: Money union leads to federation.
Key Takeaway
Support deeper integration.
Themes
politics
economics
integration
Mood
analytical
critical
Type
political
economic
When to use this quote
- EU policy
- national budgeting
- currency reforms
- regional cooperation
Key Concepts
monetary policy
sovereignty
regionalism
Questions to Reflect On
- How does monetary union affect national identity?
- What are the risks of deeper political integration?
A Different Perspective
Sovereignty concerns may cause resistance.
![“The monetary union tries to handle two groups of countries which differ greatly in terms of economic culture. First, the North-West European countries […] which aspiring to rules and discipline, and the Mediterranean countries […] which aspiring political solutions to economic problems. The first…” quote by Frits Bolkestein](https://sms4smile.com/quotes/img-quotes/c58/frits-bolkestein-135677_crisis_the-monetary-union-tries-to-handle-two-g_1758852.jpg)
