The unsuccessful referendums in France and the Netherlands can be interpreted in different ways, but they clearly suggested that the people of the European Union were not ready to embark on 1/4  BIS central bankers' speeches  the road towards full political federalism – or at least not at that point in time.
It is also fair to say that the appetite for such federalism today is not much different from in 2005. In recent years there have been growing doubts about the European project. At the same time, polls consistently show that European citizens support federal decisionmaking in a wide range of areas, ranging from energy to migration to the fight against terrorism.