Prosperity and growth in Europe depend on a well-functioning single market and a stable monetary union. Both need to be deepened. The multi-annual research project “Repair and Prepare: Strengthen the euro” examines what makes economic sense and what is politically feasible.
The Bertelsmann Stiftung and the Jacques Delors Institut – Berlin have joined forces to provide a road map for a stronger European Economic and Monetary Union. The project outlines a reform agenda that addresses economic, political, and legal aspects for a strengthened euro area. We evaluate the case for more economic convergence, a deepened single market, and structural reforms in the member states. Furthermore, we propose institutional improvements that will enhance the euro area’s adjustment and crisis management capacities. Finally, we address the issues of credible commitment and reform implementation, and assesses measures to enhance the legitimacy of the common currency union.
