For Richer, For Poorer Europe on the Verge of Becoming a Transfer Union

The euro zone looks set to evolve into a transfer union as it struggles to overcome the debt crisis. There are a number of options for the institutionalized shift of resources from richer to poorer member states -- and Germany would end up as the biggest net contributor in every scenario.
The 19th century statue of the ancient goddess Athena in Athens. The emergency EU summit on Greece last month pushed Europe closer to a transfer union.

The 19th century statue of the ancient goddess Athena in Athens. The emergency EU summit on Greece last month pushed Europe closer to a transfer union.

Foto: dapd
Translated from the German by Josh Ward