As a committed European – indeed, I would even own up to having urged our joining the euro at its inception – I can only call what European leaders are now up to as a complete democratic disgrace.
There is no mandate in any of the countries for the kind of wide-ranging changes in sovereignty being proposed. There is no indication that it is what their populations want. It does nothing for growth or any of the concerns of the populations of the member countries. And, what is worse, there isn’t even any firm indication that it will work.