As Angela Merkel tries to hold off banking union by calling for a full-blown budget union, the German people express their opposition to any more EU integration (Bloomberg via Andrew Stuttaford):
A directly elected EU president was rejected by 63 percent of Germans while 59 percent said the Bundestag, the lower house of parliament, should keep its budgetary rights and 74 percent said the EU shouldn’t become a federal state…Seventy-three percent of Germans reject joint euro-region government bond sales and 69 percent said more transfers of power to European institutions require prior referendums
Stuttaford asks the critical question: “But will the country’s political class pay any attention?”
So far, the answer is “no.” That best not hold for long.
Cross-posted to Virginia Virtucon
