SUPERSTATE OR OBLIVION: ‘Unsustainable’ EU told to merge or die by leading credit agency

THE European Union must immediately merge into a huge superstate or face fast approaching oblivion, a leading credit ratings agency has warned.

Standard and Poor’s (S&P) said only the rapid creation of a United States of Europe, run by a federal government in Brussels, can prevent the bloc from total collapse.

The only alternative, they say, is to roll back decades of political integration including the euro currency and return the project to its original status as a trading bloc.

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