THE EURO IS 18 - TIME TO GROW UP!
How to unshelve plans and regain consensus for an economic and fiscal union
Faced with many new challenges, Europe seems to have forgotten that only a few years ago the euro was on the verge of collapse. Managing increased immigration, Brexit, political instability in Europe's neighbourhood and Donald Trump as US President have all taken euro’s place at the top of the preoccupations of European decision-makers and most citizens. However, the root causes of the crisis that in the past few years has shaken the Economic and Monetary Union remain still largely untackled. Plans by the European Commission, reports by the Presidents of the EU institutions, and resolutions by the European Parliament calling to complete the banking union and move to a fiscal and economic union (with the necessary elements of "political union” required alongside) remain on the shelves, almost forgotten. Contrasting views on the future of the euro’s governance and European economy still divide key Member States and prevent progress. Sooner or later, such lack of resolve will undermine the Eurozone’s stability again. Greece may well be a test case once more. With the EMU turned 18 on the 1st January 2017, a reflection is needed on how to unshelve such plans and create consensus among key Member States and citizens to complete the monetary union and bring
the euro to adulthood.
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