Economic and Monetary Union (EMU) calls for European and national policies to work in sync, which in turn requires close cooperation between European institutions and you – European and national parliamentarians. From the start, the EMU project has been accompanied by two central debates.
The first relates to the order of integration, with some arguing that political convergence should come before monetary union and others reasoning that economic integration would spur political integration. And the second relates to the question of whether to already incorporate new members into the euro area or first deepen its institutional underpinnings. These debates highlight choices that go beyond economic considerations.