If the global financial markets continue to have no confidence in the sticking-plaster rescue packages offered by Eurozone leaders, some nations will go bankrupt — one or two, such as Greece and Ireland, are already more or less trading while insolvent.
They may hope their salvation, apart from pulling out of the single currency and devaluing, would be to accept Germany properly bolstering the euro and effectively colonising the Eurozone.
This would entail a loss of sovereignty not seen in those countries since many were under the jackboot of the Third Reich 70 years ago.
For be in no doubt what fiscal union means: it is one economic policy, one taxation system, one social security system, one debt, one economy, one finance minister. And all of the above would be German. […]
Where Hitler failed by military means to conquer Europe, modern Germans are succeeding through trade and financial discipline. Welcome to the Fourth Reich. [bron]