The euro area is, in the end, a political project and what we now need is to complete the integration of European nations in this unique community that is neither a nation nor a State. It is a powerful vision of preserving and defending national identities and interests in a globalised and very challenging world.
12  10  See “Towards a genuine Economic and Monetary Union” a Report by the President of the European Council in close collaboration with the Presidents of the European Commission, the Eurogroup and the ECB, (http://www.european-council.europa.eu/the-president/eurozone-governance). BIS central bankers’ speeches