The way forward  The euro area is now recovering. However, the recovery faces headwinds, relating both to political uncertainty linked to the rise of populism and anti-EU rhetoric and the surge of protectionist voices. The populist voices around the globe ‒ and particularly in developed economies ‒ can be traced to the undesirable consequences of globalization and technical progress.
The Ministers of Finance of the ‘outs’ are full members of the Ecofin Council and are allowed to participate in the discussions in the Council on policy co-ordination matters. Their participation makes sense, because economic developments in non-participating countries will have a major impact on developments in the euro zone.