About: Scenario: European Union   Sponge Permalink

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French and German credit ratings begin to suffer. Faced with no other way out, EU members sign the Emergency Economic Recovery Treaty. This treaty temporarily merges all Eurozone government wealth and debts into a single European Treasury under the European Commission. All national government bonds become European bonds and the ECB is given extra powers. A European tax is introduced to fund the treasury and greater European control on national governments is introduced.

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  • Scenario: European Union
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  • French and German credit ratings begin to suffer. Faced with no other way out, EU members sign the Emergency Economic Recovery Treaty. This treaty temporarily merges all Eurozone government wealth and debts into a single European Treasury under the European Commission. All national government bonds become European bonds and the ECB is given extra powers. A European tax is introduced to fund the treasury and greater European control on national governments is introduced.
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abstract
  • French and German credit ratings begin to suffer. Faced with no other way out, EU members sign the Emergency Economic Recovery Treaty. This treaty temporarily merges all Eurozone government wealth and debts into a single European Treasury under the European Commission. All national government bonds become European bonds and the ECB is given extra powers. A European tax is introduced to fund the treasury and greater European control on national governments is introduced.
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