Yes because economic domination is exactly what the EU is doing... how exactly?
The EU is a byzantine institutional mess, but at its heart it has always been reluctant to become an imposition. If you even paid close attention to the history of EU summits, you would have seen that any attempts at further integration were shot down by various EU members (UK included).
Yes the EU does seek further integration. But as things stand, they are bound to respect the wishes of all their members as well. Of course, in practice they end up dictating fiscal policy to such smaller nations as you said, for example Greece -- but this is mostly because they have to keep the books in order and also because Greek fiscal and economic policy was a literal black hole for public funds and bonds. They are also responsible to those who give this money, e.g. UK which was very much against the idea of funding Greece.
The true problem with EU is that it has to appease both the poorer weaker members, as well as cuddle the more powerful and obnoxious members like the UK.
The EU *is* in trouble. There is no way around this. It will either have to integrate further (the German/France side) or become more minimal (the UK), or the impossible (what the weaker countries want, which is a mixture of greater integration in terms of lending, etc whilst at the same time seeking more independence - "lend us money, but don't tell us what to do with it fiscally")
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