The fundamental problem with Europe is the Euro- all this tinkering with pensions to create growth this only really necessary because the banks remain a complete mess (although anything that increases the level of integration is part of the EU Commission's master plan that no one can really democratically alter or affect ).
We recently had a bail out of a couple of small Italian banks. Not only is this not supposed to happen anymore (bail-ins are supposedly the requirement now) the actual financing is ludicrous and effectively nullifies the so called Bank Recover and Resolution Scheme that the EU put in place to tackle all the future banking crises.
Because the Italian banking system is in such a mess and the consequences for the Euro of bail-ins too grave to contemplate, the Commission was unable to implement it's own rules. Italy has been allowed to borrow another Euro 20 billion through the ECB bond buying scheme to bail out these two minnows of banks.
God only knows what the cost of bailing out the rest of them will be to prevent the whole system from collapse and God only knows here that money is going to come from- the Italian governmnet is already in hock the the tune of 132% of GDP (and doubtless Germany will use this disregard for Eurozone rules to allow a "bail out" of Deutsche Bank after the German election)
That's the Eurozone for you- those that are too big to fail can do what they like, those less significant have to do as the are told or have the money supply cut off- what a farce
A perfect summary of the EU was put on display yesterday for the world to see- the mighty Juncker deigned to turn up in the European Parliament and only 30 MEP's could be bothered to turn up to say hello
He threw a diva type strop, the President of the Parliament tried to defend what was indeed indefensible, and the whole lot of them were exposed for the petty, snout in the trough incompetents they really are