And today’s reduced funding costs for sovereigns should be used to 7/9  BIS central bankers' speeches  enhance debt sustainability, especially in countries where solid debt sustainability is not selfevident due to the high level of public debt. This would help creating the badly needed fiscal space in the next recession, both for individual member states and for the eurozone in aggregate.
Conclusions In conclusion, there is a strong case to move on with the ever-changing evolutionary Union. The dichotomy of ‘federation or death’ has been put forward too often, and frequently for propaganda reasons. But let me reveal you a secret: it is fake news.