Bernanke Says Europe Needs Own Fed

Because it's worked out so well for the United States.

Federal Reserve Chairman Ben Bernanke says that a central economic organization in Europe would help solve some of that continent's economic crises.

"If Europe had a single fiscal authority, that would put them in a much closer situation relative to the United States," Bernanke said today. "That would probably address many of the concerns, many of the problems that they had."