James, H., Siegel, J., (2013), “The Birth of Fiscal Unions”, www.project-syndicate.org, 5 September.
Fiscal unification is often an effective way to enhance creditworthiness, and it may also create a new sense of solidarity among diverse peoples living within a large geographic area. For this reason, Europeans have often looked toward the model of the United States. But they have never been able to emulate it, because their motivations for union have been so varied.