Let me end by quoting from one of the last notes left behind by Mahatma Gandhi in 1948 : “Whenever you are in doubt, or when the self becomes too much with you, apply the following test.
Under the monetary pillar, there is only Europe: the single currency, the single monetary policy, and the single central banking system – the Eurosystem, which consists of the ECB and the national central banks of the 17 members of the euro area. The economic pillar is more decentralised, with responsibility for fiscal and economic policies in the hands of individual countries.