14

Europe’s Necessary Union

BRUSSELS – The consequences of Europe’s debt crisis are all too present throughout much of the European Union, as distressed economies attempt to stabilize and grow at the same time. Notwithstanding the important decisions taken over the last couple of years, the reality is that we need to do more to tackle the challenges facing the eurozone.

Reform and consolidation measures are being implemented across the EU. Joint financial backstops have been put in place. And the European Central Bank has consistently shown that it will stand by the euro. Yet experts and partners often underestimate our determination.