Chapter 2 - Deepening EMU as a win-win: How to keep the reform debate alive

George Pagoulatos argues that despite some institutional tinkering since 2010, the eurozone remains underequipped to face the next big crisis. That is why sustaining the process towards a deeper Economic and Monetary Union (EMU), through greater financial, fiscal, economic, political, and social integration, should be a strategic priority for the EU as it moves into its next politico-institutional cycle. However, the people’s most fundamental grievances while breathing new life into the European project, she argues. This will not solve all the economic and social challenges of the 21st century; that will require a profound change of our growth model and a reinvention of our social and institutional frameworks. But it will make Europe stronger in the face of the ongoing transition, better prepared for upcoming changes, and it will bring more stability and enhance trust in the future.

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