There are, of course, a large number of options for this, all depending on how far competencies are shifted to the European level, revenue and spending powers are centralised and transfer elements are extended.
The question is whether this will flow through in due course to the large emerging economies that have been the main force driving global GDP growth in recent years. Some flow-on is, of course, to be expected, even if the situation in the advanced economies does not deteriorate further.