It also shows that it is possible to keep pace with events and meet the demand for greater accountability from society, while respecting essential principles enshrined in primary law. However, there are two challenges in this regard that I would like to discuss as they also have broader relevance for the EU, with its unique institutional framework.
First, the distinction between the euro area and the EU means that it is more difficult to fully tailor accountability to euro area tasks. In particular, the European Parliament does not sit in euro area composition when discussing euro area matters, even though it would be common sense for it to do so.