“Les hommes n’acceptant le changement que dans la nécessité et ils ne voient la nécessité que dans la crise”. Jean Monnet’s teaching has always been successfully applied to the European Union. Once again, in the wake of a severe crisis, Europe is striving to enhance integration, both in the monetary and non-monetary field. The delusion that economic convergence would stem from the mere adoption of a single currency proved itself wrong. Time seems ripe for the European Commission to change the Stability and Growth Pact and, at the same time, to manage macroeconomic imbalances and launch a new long-term growth Strategy (“Lisbon 2020”).
Insights and proposals will be provided to better address these issues by also taking into account further governance improvements and socio-political sustainability