Such debates should touch on issues that are especially important to people’s lives, such as internal and external dimensions of security, a common border policy and a more responsive foreign policy. Conclusion Let me conclude. Werner was aware that some Europeanisation of fiscal policy was an important element for the currency union.
The recent financial crisis highlighted the fact that some financial firms had grown so large, leveraged, and interconnected that their failure could pose a threat to overall financial stability. The sudden collapses of major financial firms were among the most destabilizing events of the crisis.