Estabilidad y prosperidad en la unión monetaria

FRÁNCFORT – La idea de que la zona del euro es una unión monetaria sin una unión política, pese a estar muy extendida, refleja una concepción errónea de su significado. La unión monetaria solo es posible gracias al alto grado de integración ya alcanzado entre los países de la Unión Europea —y compartir una moneda única refuerza dicha integración—.

Si la unión monetaria europea ha mostrado una capacidad de resistencia mayor de lo que muchos esperaban, es porque quienes dudaban de ella valoraron incorrectamente esta dimensión política. Subestimaron los vínculos entre sus miembros, lo mucho que habían invertido colectivamente y su voluntad de trabajar juntos para resolver problemas comunes cuando más se necesitaba.

Sin embargo, también es evidente que nuestra unión monetaria aún no está completa. Este fue el diagnóstico presentado hace dos años en el Informe de los cuatro presidentes (elaborado por el presidente del Consejo Europeo en estrecha colaboración con los presidentes de la Comisión Europea, del Banco Central Europeo y del Eurogrupo). Y aunque se han logrado progresos importantes en algunas áreas, queda trabajo por hacer en otras.

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