Even though game theory scenarios suggested the final showdown for the European Union is to take place between Italy and Germany, the are developments taking shape for a possible European government.
Italy's burden is too great for Germany to take on unless it benefits Germany at the same time. By breaking from the EU, Italy would gain a cheaper currency promoting growth. This might be the more probable showdown according to economists.
At the same time, the EU taking control of Spanish banks establishes the European government as the legitimate power overriding local governments.
This is just so similar to the history of the American Federal government that it makes it a possible precedent for an established European government for the good and bad.
