Toward a Genuine Economic and Monetary Union?
With Europe’s current crisis having convinced many that the EU's existing institutional arrangements are unsustainable, many high-level figures have been calling for a move toward political union. But further European integration will not be feasible until trust among the member states has been restored.
FRANKFURT – Since Europe’s Economic and Monetary Union (EMU) was created, no progress toward political unification has been made – or even really attempted. Now that Europe’s current crisis has convinced many that existing institutional arrangements are unsustainable, this may be about to change. But should it?