Miguel Duarte

“We are exactly at that moment in Europe where we need to go from a confederation to a federation by the process of the creation of a federal budget, exactly as the United States did. Therefore, while we may discuss each of the different crises - in Italy, Portugal, wherever - the question is much simpler: If there is not in due time, in the next twelve months, real progress [with creating a] federal budget, euro bonds, and strict coordination of nation-state budgets, the euro will disappear; Germany will get out.”