Obviously, there are mutual benefits to be gained by researchers and policymakers from the former undertaking policy relevant research, but I think it is important that researchers maintain their academic independence at all costs. They should not be too close to policymakers, whether in governments or international institutions, or  2  BIS central bankers’ speeches  dependent on them for financial resources.
The EU is a union of democratic states. It is the citizens’ preferences and trust that count when the future of the monetary union is decided. Today, the Enlightenment values, which underpin the European societal model, are challenged, both politically and socially, both from the inside and the outside. Politically, a populist and nationalist agenda is tempting to many.