A complex read Svejk, I cannot say that I understand it fully.
Summed up (I think !!??) in the second last paragraph;
"The only question is: Are the member states willing to relinquish their national sovereignty rights to Brussels, at least in part, in such important areas as budgets and taxation? And how will this sit with citizens, who already feel that EU technocrats are controlling their lives? "
I don't think even the proponents can absorb all the possible ramifications -I have no chance.
Such complexity magnifies the democratic deficit enormously - >>
"YOUR VOTE MATTERS!" .... even less.