When taxpayers’ money is involved at European level, a European control function is called for. If, going beyond the Westphalian paradigm, EU citizens can receive rights and obligations not only through the national sovereignty channel but also directly through the EU channel, we need to adjust the institutions. This was already recognised at the Maastricht Treaty conference on political union in 1990.
Incoming data show that, alongside the strong job market, the U.S. economy has grown at a solid pace so far this year. The value of goods and services produced in the economy—or gross domestic product—rose at a moderate annual rate of 2 percent in the first quarter after adjusting 1/3  BIS central bankers' speeches  for inflation.