Remarks prepared by European Commission PresidentÂ JosÃ© ManuelÂ Barroso for his potentially awkward news conference with Hungarian Prime Minister Viktor OrbÃ¡n —
Earlier this year, I made clear that it is not only the so-called “federalists” who want to see more economic governance and economic co-ordination in Europe; it is the markets. The markets are demanding more coordination at European level. The markets are sending every day a very clear message that Europe has to work in a more coordinated manner when it comes to economic and financial issues, so it is not a question of utopia or idealism to ask for stronger economic governance and coordination. It is a matter of realism, sound, solid common sense.
Does Mr Barroso really mean to argue that European Union citizens should be willing to surrender more economic autonomy to EU institutions because “the markets” demand it?Â You could fry that argument in a referendum, if you had a referendum.