The German opposition has endorsed plans for a national referendum on creating a full-blown fiscal Union.
The leader of the centre-left SPD party, Sigmar Gabriel, rolled out the proposals at a small press conference in Berlin on Monday (6 August).
He said the euro can only be saved by pooling debt and sovereignty.
"You will not be able to hold the euro together without a common financial and tax policy ... We have a common currency, but no common finance or budget policy....
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.