Well, unless there is democratic legitimacy for a European political union, the future of the European monetary union relies on strengthening the existing governance framework. In general, progress has been made in resolving the well-known drawbacks. The European Stability Mechanism – ESM – was established to provide financial assistance if necessary.
6 To make the most of our opportunities as a trading nation, we need to adjust as quickly and effectively as possible to changes in global economic circumstances. There are indications that Canadians are doing just that.