One would distort the character of the monetary union if one tried to force a move towards centralisation contrary to the provisions of the Treaty and one would thus deprive the monetary union of its democratic legitimacy. True, like any man-made edifice which aims to last, monetary union is bound to evolve.
But if we want this edifice to remain legitimate, any proposed changes must be set out in totally clear terms, and on each occasion we shall need to check that the citizens approve of those changes.