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Brussels blog by some wire service journalists

Summit by summit, EU slouches slowly toward unity

By RAF CASERT and DON MELVIN

BRUSSELS — The European Union’s plan to solve the worst financial crisis in its 50-year history may prove the tipping point for the continent’s political journey from a collection of sovereign states into what some leaders hope will be a single world superpower.

The struggle to keep the euro together has been creating huge tensions between countries, causing some to believe the currency union could not last much longer.

But in the early hours of Thursday morning, EU leaders reached an agreement that suggested they are so committed to their common currency that they would rather give up some of their sovereign decision-making powers than see their economic union unravel.

“Last night was a crucial step,” EU President Herman Van Rompuy told the EU legislature Thursday.

And that crucial step involves, in part, giving EU headquarters in Brussels some budgetary powers that have so far been the prerogative of national capitals.

READ THE FULL STORY HERE.

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Don Melvin

Slobodan Lekic

Raf Casert

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