And they have not decided whether the long-term answer is a fiscal union, or not.
The European Union would have to negotiate a real fiscal union, with a consolidated European budget.
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Again, it's very important to see risk-sharing, backstopping of the banking system to greater fiscal union.
It would have taken a giant step towards a fiscal union, with profound implications for democracy.
Yet the euro zone has amply demonstrated the dangers of entering a monetary union without fiscal union.
Does the market now love the idea of fiscal union, of austerity forever more in the eurozone?
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Germany is right to say that, in the end, banking union is the start of fiscal union.
We are no longer simply speaking of a fiscal union, but taking concrete steps to achieve one.
The Germans are now openly talking of fiscal union and no one knows how far that will go.
Some talk of fiscal union, which is in essence the rich areas sending money to the poor ones.
It's safe to assume that a sweeping manifesto for fiscal union is not quite what he had in mind.
That is, Europe, through emergency, ad-hoc fiscal union, effectively removes its sovereign debt from the influence of market forces.
They need an EU tax to solidify and pay for an EU-fiscal union.
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It is widely accepted that fiscal union is not sustainable without political union.
It is anticipated that in order to save the single currency full fiscal union and eventual political union will follow.
They are trying to talk up the prospect of fiscal union, because that is what the financial markets need to hear.
It will enable a section of Europe's voters to give their verdict on what is a giant step towards fiscal union.
Mr Brown said "the final showdown" could be postponed but eurozone leaders had to accept "the inescapable logic" of a fiscal union.
But the German chancellor said she only saw such a move coming at the end of a long process of fiscal union.
For some, that requires a fiscal union and EU treaty amendments accordingly.
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Perhaps a fiscal union that would supervise the issuance of common Eurobonds?
His base case scenario has Europe surviving this current debacle and devising a fiscal union that makes the euro zone stronger than ever.
European politicians need to create a new one, either with a more integrated fiscal union or a break-up of the current euro area.
Already, most of the Germanophiles in my contacts list are talking, tweeting or briefing of a "north-European euro" - a smaller fiscal union.
Of course if the eurozone edges further towards fiscal union - as seems likely - then more power will inevitably shift to Brussels.
Many observers of the Eurozone debt crisis argue that the Euro can only survive if the common currency is complemented by a fiscal union.
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The need for political cohesion around a drive for austerity was common to many delegates' views, as was a desire for closer fiscal union.
The goal is a fiscal union that enforces both fiscal discipline in its members and has the necessary instruments to effectively handle a crisis.
He, like his chancellor, believes that the "remorseless" logic of monetary union is "fiscal union" with taxes and spending agreed at a European level.
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