“It is not possible for the eurozone to continue without a clearly identified economic government. We cannot go on like this,” French President Nicolas Sarkozy told members of the European Parliament on Tuesday.

Faced with growing economic problems, Europe is being pushed to unite. Nations inside the eurozone have a common currency, a common market, and a common central bank, but they do not have a common economic policy. As Sarkozy put it, “It is a funny idea.”

Sarkozy wants to create a common economic government throughout the eurozone. And, according to Le Monde, he wants to be the head of that government.

Sarkozy believes the Georgia crisis and the credit crunch show that Europe needs a strong leader. Under the Lisbon Treaty, the European Union would have had a president ruling for a 30-month term. But the Irish rejection of the Lisbon Treaty has stalled this. Europe will continue its system of each country holding the rotating presidency for six months.

The next two countries in line to hold the presidency are not in the eurozone. The Czech Republic, due to take the presidency in January, has a Eurosceptic leader. In Sarkozy’s view, this system will not provide Europe with the strong man he wants.

As the eurozone is not a legal entity in the same way the EU is, a eurozone presidency could be established without the need to create a new constitution. Le Monde reported that Sarkozy wants to head the 15-nation-strong eurozone until 2010, when Spain, another eurozone country, takes over the rotating EU presidency.

Sarkozy also wants a regular meeting for the eurogroup heads of state and government, and proposed that European nations set up sovereign wealth funds to protect their assets.

Germany opposes Sarkozy’s plans. Worried that an economic government would use German money to bail out Southern European banks, it is refusing to cooperate. German Economic Minister Michael Glos rejected Sarkozy’s ideas in an interview with Frankfurter Allgemeine Zeitung.

He who pays the piper calls the tune. As Germany would be the net contributor to any economic government, it must be formed on Germany’s terms.

The economic crisis is forcing Europe to come together. In time, the nations of Europe will accept German leadership over their financial system. Germany may have vetoed economic unity for now, but a strong united Europe is coming.

Many in Europe see the need for a strong leader at their head. That leader is coming, but he will not be Sarkozy.

Germany will take the lead here also. As times get more desperate, people will be more willing to follow one German strong leader.

For more information on how Europe will respond to the financial crisis, see our article “Europe in Crisis: World in Danger?” published earlier this month.