Seen from this angle, the situation has hardly changed since monetary union was launched. All that remains, then, is to stabilise the building we have, focusing our renovation efforts on the current supporting structures. This means, first, strengthening the common set of rules.
And, second, it means lending renewed force and making enhancements to the principle of individual responsibility, which has been further eroded by a number of the crisis measures. Construction activity is already largely complete on the fiscal rules.