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Euro 2022

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Euro 2022

The European Monetary Union in 2022

Allianz,

5 Minuten Lesezeit
5 Take-aways
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Was ist drin?

To ensure its growth and stability, the European Union needs to align its short-term policies with its long-term goals.

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Recommendation

Economist Michael Heise offers a seven-point plan to prevent yet more crises in Europe and to deliver a stronger European bloc. He proposes greater fiscal integration and powers to intervene in budgets, as well as the tools to kick rule-breakers out of the club. Although the skeptical European electorate might be unlikely to approve of Heise’s proposals for a radical overhaul of the European Union (EU), getAbstract nevertheless recommends this paper as an essential primer for understanding the critical challenges facing the EU.

Summary

Europe’s influence is waning. Rising global powers and Europe’s aging, shrinking population will cause the Continent to lose prominence in the long term. To maintain power and influence, “European integration and European unity must be elevated to a new level.” The alternative, including a rejection of the euro, would weaken Europe’s significance by 2022. Seven key elements would lead to a more unified, more influential Europe:

  1. Political reform is necessary. Granting voters more accountability would balance the transfer of sovereignty from member states to the European...

About the Author

Michael Heise is chief economist at Allianz SE. He is responsible for analysis and forecasts of the international economy and financial markets.

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