I will be brief, so that we can enjoy the excellent food and wine on offer tonight. A global economy experiencing a cyclical recovery  Page 1 of 7  Over the past few years, the world has had to become accustomed to disappointing global growth outcomes.
I will then – drawing on the economic concept of fiscal federalism – look more at the question of “how much federalism”, focusing on issue of risksharing and the role of different levels of governance within EMU. Federalism in the EU The nature of the discussion on federalism in Europe has changed quite dramatically over time.