Europeans Talk of Sharp Change in Fiscal Affairs

Protesters in Greece rallied Saturday against government austerity measures. Some European countries want guarantees from Greece that loans will be repaid. - John Kolesidis/Reuters

By Louise Story and Matthew Saltmarsh

As leaders in Europe try to contain a deepening financial crisis, they are also increasingly talking about making fundamental changes to the way their 17-nation economic union work

The idea is to create a central financial authority — with powers in areas like taxation, bond issuance and budget approval — that could eventually turn the euro zone into something resembling a United States of Europe

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