Klaus Regling at Euro 50 Group

“Seizing the Momentum for Strengthening the Economic and Monetary Union: a Contribution from the Euro 50 Group"

The new political environment in continental Europe which emerged after Brexit, following the presidential election in France and thanks to the improved economic climate, has created a momentum for the European Union to implement reforms. The main concern is still the euro area which has to become more resilient, capable to resist any external asymmetric shock and to stave off the existential threat which still hovers over the European currency.

Among the flurry of proposals, the European Commission recently set out a roadmap for deepening Europe's Economic and Monetary Union. The subject is on the table of the European Council and a summit is to meet on June 28 and 29, during which decisions should be acted.

This Euro 50 Group meeting, a few weeks before the European Summit, which will take place in the premises of the European Parliament with the participation and contribution of policymakers, is an excellent opportunity for the Euro 50 Group to contribute to the debate by looking at the main pieces which are lacking in the current EMU architecture and hence at the reforms (including those which have a political dimension) which are absolutely indispensable in the EU framework to make the euro area a fully-fledged and efficient currency area.