“Europe will not be made all at once, or according to a single plan. It will be built through concrete achievements which first create a de facto solidarity.” Bold, but realistic. Bold because it set out an ideal. An idea. A vision for Europe. Realistic because achieving this would not happen overnight. It would happen every time a step forward was taken.
It would happen every time a concrete result was achieved. It would happen through setbacks, shocks and surprises that were overcome and learned from. Over the past years, monetary and macroprudential policy makers have achieved very concrete results. Often to be confronted with new challenges soon after, not least because monetary and macroprudential policy are intertwined.