The Gang of Four: Presidents propose power of eurozone authorities over national governments

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European leaders have drafted a radical plan to turn the 17 countries of the eurozone into a full-fledged political federation within a decade in an attempt to placate the financial markets by demonstrating a political will to save the single currency in the medium-term.
Herman Van Rompuy of the European Council has proposed, with three other European presidents, that the eurozone takes on more centralised powers
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