Not to turn away from what has worked: our 5/6  BIS central bankers' speeches  model of economic openness reinforced by our single currency. But to put right the mistakes that have prevented it from working as well as it should. For national governments this means fulfilling the conditions that we have always known are necessary to prosper in our monetary union.
And for the euro area as a whole, it means constructing an institutional architecture that sets the right incentives for those policies, and that make us more resilient in the face of common shocks. But it is also clear that, to reach this point, the sequence has to be right.