Summary of Completing Europe's Economic and Monetary Union
The Five President's Report
European Commission, 2015
Creating Europe’s fully functional Economic and Monetary Union requires more than continued commitment to the euro.
In the wake of the Great Recession, European Union member states pursued hasty remedies to regain economic stability. These saved the “single market,” but also left the EU vulnerable to future crises. The solution, according to EU president Jean-Claude Juncker, is for Europe to complete the institutional architecture of its Economic and Monetary Union. In this report, Juncker – together with the president of the Euro Summit, the president of the Eurogroup, the president of the European Central Bank, and the president of the European Parliament – offers step-by-step recommendations for how EU member states must work together to bring about a more viable, economic, financial, fiscal and political coalition. This report is a must-read for European policy makers, but getAbstract also recommends it to all European citizens.
In this summary, you will learn
- What “four fronts” within the European Union require unification,
- How a stronger Economic and Monetary Union will strengthen the EU overall, and
- Why “today’s divergence” is harmful for the EU.
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