Fiscal and political union?

Two interesting articles which illustrate well the tensions created by the EMU.  Will there be closer fiscal and political union, or is it dead in the water?

http://www.telegraph.co.uk/finance/financialcrisis/9528894/Brussels-plans-to-make-ECB-bank-super-regulator-leaked.html

http://www.telegraph.co.uk/finance/financialcrisis/9528839/Nationalist-backlash-in-Italy-and-Spain-to-test-Mario-Draghi-bond-plan.html

And, simmering away until 12th September:

http://www.telegraph.co.uk/news/9530291/German-Constitutional-Court-hearing-will-be-day-of-judgement-for-the-euro.html