PRINCETON – German Finance Minister Wolfgang Schäuble recently declared that the European Union has “moved sovereignty to the European level” – a startling claim, given that European governments seem to be pursuing their national interests more aggressively than at any time since World War II. Was Schäuble’s statement supposed to serve as a rallying cry for greater European solidarity? Or was it just a ploy to deflect calls for a larger German contribution to the eurozone’s recovery?
Schäuble is at the forefront of Germany’s efforts to lead Europe without having to pay its bills. To this end, he has called for EU treaty changes to establish a European “budget commissioner” with authority to spend shared European funds and reject member countries’ fiscal strategies when they do not comply with established rules. According to Schäuble, negotiations for such reforms should begin immediately after the European Parliament election in May.