Political union is necessary for Eurozone recovery  What is needed for the Eurozone to flourish is an economic-political union with a single budget, so that capital can flow to where it is needed and fiscal policy can make up for imbalances between Member States (20). The alternative, as we have seen, is internal devaluation, which is a very painful and excruciatingly ineffective ways of achieving the same for a ridiculous price. (21) The European Union therefore needs to be looking forward to more integration rather than backwards to less. More integration can fix many of the problems in Europe; balancing regional disparities through fiscal transfers, eliminating the democratic deficit through a more powerful parliament, and preventing problems with nationalism by empowering regions.  (20) Traynor, Ian. “Eurozone should form political union, says Germany’s ECB firefighter”, The Guardian.   (21) Persson, Mats. “Can the euro be saved through internal devaluation alone – and at what political cost?”, The Telegraph. 28 September 2012.