Germany could derail eurozone bailout fund, warns ECB's Joerg Asmussen So far, the court has never vetoed previous anti-crisis measures but it has ruled that the German parliament ought to have a greater say. Europe, Asmussen stressed, was "at a crossroads." "There is a perceived division between North and South that we haven't seen in 10 to 15 years," the ECB executive board member said. We have to overcome this very quickly. Europe faced two choices: greater political integration and surrender of some sovereignty or growing further apart, Asmussen argued. These are the only two possibilities. We can't afford ongoing instability," he said. Asmussen also urged Germany, which is calling on its fellow member states to implement often painful structural reforms, to press ahead with its own reform process. Immigrants had far too little access to the labour market and the taxation system was not particularly modern, he suggested. "We must not rest on our laurels," said Asmussen.