This is why the Bundesbank is taking part in the current reform debate. The title of my speech contains a key term: “prospects". I believe it is almost more important now than ever to talk about the prospects of the EU and the Economic and Monetary Union. The word “prospects” has several layers of meaning.
First, it can imply guidance – a compass or a roadmap. What should the EU look like in one, five or ten years’ time? Second, it generates clarity, hope – and ideally even enthusiasm.