Fixing Europe

The plan I would develop during the requantization of Europe.

1) The unicameral European parliament of 735 representatives should be proportionally allocated by district based on a five year census.
7) Each member of parliament is required to spend half of the parliament budget on earmarks for their districts.
2) Each newly elected member of the parliament could bring up to 25% of its district's GDP to the parliament treasury in the form of debt relief, or receive money equivalent if the district has less debt.
3) Bond holders take a 25% haircut from total Euro government debt.
4) The remaining debt remains in place.
5) The Euro parliament collects revenue by claiming the right to tax the highest incomes.
6) The Euro parliament is required to maintain a debt equal to 25% of Euro GDP, and can only change that amount by 3% per electorial period.

This program is similar to the Split Government program I propose for the USA. It follows the same theme, seeking accuracy in government.