Publication

This paper proposes an assessment of what has been put on the table in response to the euro crisis – and what more needs to be done. The author starts with a brief assessment of the measures taken in the ‘six-pack’ and the debate on the Euro-plus Pact. He then discusses some operational elements of the European Stability Mechanism and address the question whether the EU is a transfer union. He concludes by proposing a pragmatic agenda of items on which the EU could advance towards a more federal economic union.