European Commission President Jose Manuel Barroso has unveiled a vision for the future of the EU. BBC News - EU unveils its vision for the future of monetary union The vision, which creates a EU treasury, would give the EU powers over national budgets in that it would place limits on the amount of national debt and would allow an EU veto of national budgets (in some circumstances). Collective Eurozone borrowing has also been mooted. Good or bad? Probably far too early to say. But could this closer integration lead to greater marginalisation of Britain?