We won’t be able to foster cooperation on security and defence, or to speak with one voice on international affairs, or to complete the Single Market if we repeatedly have to tackle economic crises which are largely of our own making.
A series of crises has already taken its toll on welfare and jobs, and they have sown the seeds of division in a way that is still holding us back at a time when we need decisive action. A sound and sustainable euro area institutional architecture will help redirect political capital where it is most needed.