"To state boldly that we have no lessons to learn seems to be missing the point. To imagine that the European Union has nothing to learn from the United States, Japan, Brazil or Canada is clearly wrong.  These countries are successful federations with a single currency, a single economic policy, a single budgetary policy and a single bond market.  The Union still has lots to learn in this domain as do some of its leaders."

Guy Verhofstadt continued, "It is only through profound change in the development of the Union that we will succeed in overcoming the crisis. Experience from other countries can only help us in this respect.

Sadly, it seems that pressure from the leaders of other industrial nations is required to move the European Union forward as its leadership seems unable to take any concrete action to get the Union out of the mess it has largely put itself in."

"We are not just in the middle of an economic and financial crisis, but in an all-out political crisis. Europeans want to go forward. Only a quantum leap into our federal future will save the Union. Obama and others see the way forward. Their advice rather than being frowned upon should be heeded."