Warren Mosler does not hide behind the door when it comes to promoting his ideas. He has funded a new site MECPOC to get his message out. His message is always creative and interesting. This post by Andrea Terzi sums up Moslers prescriptions for the euro-zone – all achievable without treaty change.
Examples of proposals being discussed that include some form of political sovereignty transfer include those by Tabellini and Soros.
The only effective proposal around so far, to my knowledge, that directly aims at goal #1 (and does not require political reforms) is some combination of the ECB revenue-sharing solution and the ECB acquisition of Mosler bonds. This is not an easy political sell either, yet implementation of it before Europe finds itself on the brink of collapse would be a European boon!
The new twist that Mosler has added is that the ECB should insist that the sovereign bonds it buys from troubled states should be converted into bonds backed by the fact they can be used to pay taxes in that state.
