In my view, the required investment I have just outlined can be considered as such a public good. And the action points set out in the Versailles Declaration enjoy broad support among Europeans.
[18] So if we think back to those words of Jean Monnet, the current geopolitical crisis requires us to make another leap forward in the process of EU fiscal integration, recognising that it is an illusion that EMU can function smoothly without a fiscal capacity at European level to respond to such external shocks.