EU Observer (Link) - Leigh Phillips (September 7, 2011)
The Dutch government has proposed that highly indebted states be put into “guardianship,” with spending decisions seized from the elected government and placed under the direct control of a European commissioner.
If a state is unwilling to surrender its sovereignty in this way, then it would be forced to exit the euro.
“Member states not willing to make themselves a ward, may choose to make use of the option to leave the eurozone,” Dutch Prime Minister Mark Rutte said in a letter to the national parliament co-signed by the finance, economy and foreign ministers.
“To continue to be part of the monetary union, states should fully respect agreements.”
Under the proposals, seen by EUobserver, a special European commissioner would be appointed to oversee the budgets of euro-area countries.