Wikki Says :

Control over fiscal policy is a traditionally considered central to national sovereignty, and today there is no substantial fiscal union between independent nations. However the EU has certain limited fiscal powers. It has a role in deciding the level of VAT (consumption taxes) and tariffs on external trade. It also spends a budget of many billions of euro. There is furthermore a Stability and Growth Pact among members of the Eurozone (common currency area) intended to co-ordinate the fiscal policies of member states.
German Chancellor Angela Merkel has said Europe is working towards setting up a "fiscal union", in a bid to resolve the eurozone's debt crisis.
On Monday she is to meet French President Nicolas Sarkozy, who has also called for EU treaty changes.
EU leaders have been under pressure to do more to tackle the debt crisis, amid concern about the survival of the euro.
In her speech, Mrs Merkel promised "concrete steps towards a fiscal union" - in effect close integration of the tax-and-spend polices of individual eurozone countries, with Brussels imposing penalties on members that break the rules.
not included in the article is the definition of the word "TREATY" :
Article continues : The German government has been pressing for changes to establish powers to veto national budgets in the eurozone that breach agreed rules.
"We have started a new phase in European integration," Mrs Merkel said.
"We must confront those who doubt the stability of the euro and speculate on its break-up with total solidarity," Mr Sarkozy said.

However Mr Sarkozy rejected suggestions that national budgets could be approved and regulated in Brussels, and said France would not give up its sovereignty.
No 'joint liability' In her speech on Friday, Mrs Merkel also reiterated her opposition to the European Central Bank (ECB) issuing "eurobonds" backed by all eurozone members.
"A joint liability for others' debts is not acceptable," she said. "Eurobonds are not a rescue measure in this crisis."
She added: "National responsibility and European solidarity serve each other."
Many in Germany argue that eurobonds would penalise countries with a high credit rating, and reduce the incentive of indebted governments to reform.
During their meeting in Paris on Monday, Mr Sarkozy and Mrs Merkel are to agree on joint proposals to be put to a meeting of European leaders next week.
Many analysts see that summit as a crucial moment in efforts to tackle the debt crisis.
European stock markets rose early on Friday, as Europe's leaders call for closer economic integration as the way to resolve the debt crisis
Meanwhile Mr Sarkozy is discussing the eurozone crisis with UK Prime Minister David Cameron in Paris.
Britain is concerned about the possible impact of a two-speed Europe, in which it could be left on the margins along with other countries outside the euro.

We know a United, a grouped of nations are easier to control rather than all these nations doing there own thing. Thus the stage will be set for Revelation 13:16:17. The control of buying and selling One of the bases in which the Papacy will sit as queen on the throne of the earth for a short time hence bringing in the hidden agenda of persecuting Bible believing Christian like in the dark ages. This time is mentioned in Daniel 11:40-45 in detail and .Then Michael shall stand up Daniel 12:1.Christ Will stand up putting and end to all Evil and sin in the World.
Give your life to Jesus now, And he will bring more light(truth) He is the way the truth and the Light.John 14:6
Perfect peace to you as we see on the horizon a perfect storm.
Royalblood
"The enemy has used the chain of dependence to draw men together. They have united to destroy God's image in man, to counterwork the gospel by perverting its principles. They are represented in God's word as being bound in bundles to be burned. Satan is uniting his forces for perdition."{{Vol 6 Testimonies to the church 241.5} written in 1901