The EU is attempting the same thing with the Lisbon Treaty. When it was submitted as a constitution referendum, it was rejected. The constitution was submitted to individual countries as a treaty which was then agreed to by government representatives.
The ruling authority is the European Commission which is appointed/rubber stamped by an ineffective token European Parliament, not dissimilar to when U.S. Senators were appointed by state legislatures before the 17th Amendment.
The Commission doesn't have to worry about elections. In theory, it has no constituents voting the treasury to themselves and should be able to control the welfare state spending. Its lavish compensation should make it immune to special interests.
In theory, this is what it is trying to do. It has even installed EU prime ministers in Greece and Italy. It has usurped the budget of Ireland. It forced presidents out of Spain and Portugal. It has enforced austerity on all these PIIGS.
Of course, they are all insolvent countries as are their financial institunions.
The grand EU socialist experiment is trying to cut spending and reform decades old socialist institutions.
The present phase to take the treasury out of the voters' ballot.
yitbos
I tuned off the TV before I threw anything.