Europe needs a vision leading from crisis to stability that can act as a guideline for concrete and specific action. The Bertelsmann Stiftung and the Jacques Delors Institut – Berlin have joined forces for a research project 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. The projects evaluates the case for more economic convergence, a deepened single market, and structural reforms in the member states. Furthermore, it proposes institutional improvements that will enhance the euro area’s adjustment and crisis management capacities. Finally, it addresses the issues of credible commitment and reform implementation, and assesses measures to enhance the legitimacy of the common currency union.