There are no shortcuts available: the response to the debt crisis lies first and foremost in national policies, in the complete implementation of the adjustment plans that have been agreed. Solidarity among the member countries in the Union must be matched by a sense of responsibility and compliance with the rules.
Looking ahead, I believe that the steps that have already been taken to tackle the weaknesses of the European architecture are important. The proposals of the EU Commission and the Council reinforce surveillance over budgetary policies. They can be made more ambitious by making procedures more automatic so as to shield them from the arbitrary nature of political negotiations.