Summary of Euro 2022

The European Monetary Union in 2022

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Euro 2022 summary
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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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.

In this summary, you will learn

  • What factors threaten Europe’s importance as a world economic and political force
  • What seven structural and political reforms Europe must enact to ensure its significance in 2022


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...
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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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