Rob Green / Bergman Group
The budget is the state stripped of ideological pretensions.1 So when the European Union, a confederation, sets out to control the budgets of its member governments, what is being discussed is not just debt, but the question of who will be sovereign. The fiscal debates are thus a constitutional debate, as my American Enterprise Institute colleague Michael Greve has recently discussed, with particular attention to Alexander Hamilton and Federalist No.15.2
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Alex Pollock is a Resident Fellow at AEI.