Sluggish economic growth, elections in key countries and Brexit negotiations are set to make 2017 a crucial year for Europe. The international conference "Europe 2017: Make It or Break It?" (Rome, 24 January) tackled the main issues that might hinder the future of the European integration process and advanced proposals to overcome today’s stalemate.
Giorgio Napolitano, former Italian President and Honorary President of ISPI; Mario Monti, President of Bocconi University and former Italian Prime Minister; Sylvie Goulard, member of the European Parliament; Peter Praet, member of the Executive Board of the European Central Bank and Niels Thygesen, Chairman of the European Fiscal Board were among the guest speakers of the event organized by ISPI, SoG and SEP (LUISS).(Download the program)
The policy brief "Europe 2017: Make It or Break It?" authored by Franco Bruni (ISPI), Sergio Fabbrini (SoG) and Marcello Messori (SEP) was presented and discussed on this occasion.
This paper argues that economic and political efforts are needed to produce a set of European public goods, which would be dependent on gradually enlarged and reorganized EU resources.
In particular, the banking and capital markets union can provide public goods which may help balance risk reduction and risk sharing policies.
The production of European public goods should be a preliminary step in the reform of the EU institutions, with a view to creating a federal union (not a federal state) with a neater supranationalization of certain policies and a clearer distinction between supranational responsibilities and policies that member states must enact with full autonomy.