Time to go federal?

One thing that is emerging from the Greek crisis is the fact that running a multi-state currency where any component can go hogwild just is not going to work. Both Ruairi Quinn and Simon Coveney, on A Week In Politics last night, suggested that we have to move towards some sort of Brussels ratification of Eurozone national budgets (and actual figures, given the Greek situation. Don’t forget, in the early 1980s FF under Haughey were fiddling the books too) before member state parliaments sign off on them. Although this would be a surrender of a certain degree of national sovreignty, I personally wouldn’t have a problem with another pair of eyes been run over the national books.