# Prof. Nicholas Economides says the EU needs a fiscal union

1 Faculty News May 31, 2012 ![CNBC logo](/sites/default/files/styles/246w/public/assets/images/con_034412.gif?itok=MRidxYS3)>

Excerpt from [CNBC](http://video.cnbc.com/gallery/?video=3000093334&play=1) -- "It is very difficult for \[the euro\] to exist without institutions ... we need to create the right institutions in Europe and then there will be stability."

[Watch the video](http://video.cnbc.com/gallery/?video=3000093334&play=1)