The euro will soon celebrate its twentieth anniversary, but the mood is spoiled by still unsolved problems of the common currency area. The European Monetary Union (EMU) requires a healing of the wounds left by the previous crisis, such as unemployment or stagnation and long-term indebtedness – discernible now in the argument about Italy’s budget. The eurozone must also complete its governance architecture in order to be prepared for the next crisis. If the EMU meets these challenges successfully, its role in the world will rise and the European Union (EU) will consolidate around the common currency.

Please read the Policy Paper nr 1 (2018): “The Euro: It Must Change To Carry On” by Dr. Sebastian Płóciennik in the attachment below.

This Policy Paper is produced within GLOSBEC DIFF GOV – „European Governance: Potential of Differentiated Cooperation“, an international project that explores the potential for flexible modes of cooperation between European Union member states and is supported by Jean Monnet Activities of the EU Programme Erasmus+. The future of the eurozone is also a topic discussed by the GLOBSEC Vision for Europe Taskforce.