How to save the common currency

“Over the abyss?,” headlines conservative weekly Uważam, rze, which wonders whether the euro can still survive. The answer is “yes”, but euro zone countries will have to give up a substantial part of their sovereignty. “The current crisis will serve to speed up the process of establishing a euro-government” that will take over responsibility for macro-economic policies from member states. Sooner or later Chancellor Merkel’s demands for the harmonization of corporate taxes and the reform of pension systems in euro land will be implemented”, writes the Warsaw weekly, which insists that without these changes the euro zone will be doomed. However, “history teaches us that Angela Merkel always gets what she wants” — which is why Greece has been forced to accept drastic cuts and privatise state companies. Very soon the Spanish, Portuguese, Italians, Belgians and, with time, the French will find themselves in a similar situation. ”In theory, the budgets of the above countries will be controlled by Brussels, but in practice, most of the decisions will be made in Berlin,” concludes Uważam, rze.