An increasing number of economic and political analysts are coming to the conclusion that the only long-term viable solution to the Eurozone crisis, is the elevation of the European Central Bank (ECB) to lender of last resort, a possibility that will make all 17 states responsible for everybody's debts, accompanied by the creation of an institution such as a ‘Central Ministry of Finance’ in Brussels.

All of the above would replace, in an institutionally transparent way, th...

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