It is also positive the support in the same framework for a clear distinction between Member States belonging or not to the euro area. The requirements of avoiding negative imbalances must be more demanding for members of the monetary union.
This type of distinction, making full use of the Treaty’s new Article 136, has to be applied in different domains, drawing the appropriate lessons of the crisis for the functioning of the monetary union. We hope that the ongoing negotiations over the legislative package will permit the texts to be significantly improved along these lines.