Philipp Bagus, of the Mises Institute, said some of the bloc's leaders have been masquerading behind claims they want to see a "deepening of the European project" instead of openly branding their objective as a "European superstate".

German, Finnish, Dutch and Austrian leaders have demanded stricter limits on fiscal deficits and debt brakes, while some have gone even further.

French President Emmanuel Macron has called for widescale Eurozone reforms – which include a European minister for finance, a separate eurozone budget and the harmonisation of tax rates.