Putting the real economy truly center-stage means that we should build such Europe that opens up opportunities to innovate and create new businesses and thus jobs. Better institutions to prevent and manage crises, including stabilization policies, are no substitute for structural reforms that are needed to improve Europe’s productivity and real competitiveness.
Finally, let’s recall that Eurozone reform is closely linked to the overall future of Europe and its Union. The values of the Enlightenment, which underpin the European social and political model, are now challenged both politically and socially, both from the inside and the outside. In this context the Eurozone reform is an essential element of a broader endeavor to strengthen Europe.