For example, the rates of economic growth have now largely converged in the various euro area countries, but their per capita income levels still differ widely. This is a problem for the euro area. Once each of the Member States has done its share of the work, they will then be able to strengthen their joint structures.
In the end, I think that this calls for stronger institutions, such as a finance ministry that is allocated a common budget, but let’s be careful not to put the cart before the horse. How can the Germans be convinced to move towards this common budget? There will be no single budget policy, as the Member States do not want one.