How many countries have to adopt the TDEM for it to enter into force?

It would be preferable if the TDEM were to be adopted at the outset by a considerable number of countries, in particular the four main countries in the Euro Zone: Germany, France, Italy and Spain who together represent over 70% of the population and the gross domestic product of the Zone. This is why we have taken this threshold of 70% for the entry into force of the Treaty (Article 20 of the TDEM). This moreover would enable the signatory States to enjoy sufficient legitimacy to intervene in the regulation of the monetary union.

But the Treaty can also be amended to enable it to be adopted by a smaller number of countries who can thus express their actual willingness to advance; above all, they can demonstrate to others the interest in having common taxes and a budget for democratisation. For example, nothing prevents France and Belgium or France and Germany from creating a Common Assembly with the power to adopt common taxes to finance a common budget.

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This post was written by admTDEM