Moreover, it should not create new opportunities for public borrowing, given already high debt levels. On the other hand, if it is part of a fundamental reform of EU funds, a euro area budget could be a welcome development.
3.3 A strong euro area as part of a strong EU Ladies and gentlemen at the World Cup football tournament in Russia, European teams were very successful. Admittedly, the Greek national team didn’t qualify and the Germans failed miserably. But the last four teams were all from EU member states.