spotlight europe #2015/04—October 2015: A Fiscal Union for Europe – Building Block and Not a Magic Bullet

The dramatic negotiations with Greece in the past few months have been a telling reminder of the weaknesses of the euro area. Most of the commentators are of the opinion that if the monetary union is going to be crisis-resistant and stable in the long term, certain very important elements will have to be changed. However, there is little or no agreement when it comes to specifying the "what" and the "how". In particular there are heated debates about the right steps to further integration in the area of fiscal policy. "Fiscal union can create stability only if it includes both credible budgetary rules and some kind of risk sharing", argue Katharina Gnath and Jörg Haas in the latest spotlight europe. However, "whilst it is an important and effective way of stabilizing the euro area, it should not exclude the use of other instruments."

Freedom of movement of persons - the building block of European growth. CHALLENGE EUROPE Issue 22 - Challenges and new beginnings: Priorities for the EU's new leadership, September 2014.

The European integration project is founded on values and principles which are simple, equal, and advantageous for all. Freedom of movement of persons is one of the main cornerstones of EU success. It is a fundamental, cherished right of EU citizens. Thanks to this liberty, European citizenship is real, concrete and attractive. Moreover, it spurs economic growth and technological development. But because freedom of movement has become an obvious feature of our day-to-day lives, some of us tend to underestimate its consequences. Important recent developments mean that we must renew our commitment to defend this building-block of a Europe whole and free.