Not really — that's the exact crux of the argument for many British and Germans, etc: "Is the EU a full federal project, with all of the responsibilities and expectations that encompasses?". In both countries and the likes of Greece, the answer has been a resounding "NO!" which leads to the inevitable and existing impasse the continent currently faces.
America is politically able to let, for example, Detroit, die a lingering death. For obvious reasons the Greeks would rather a similar fate wasn't in store for their country.
"Damned if you do, damned if you don't" as a famous early 90s child philosopher put it.