5/11
Author: Jean-Claude Piris
Title: It is Time for the Euro Area to Develop Further Closer Cooperation Among its Members
Abstract:
The aim is to examine what could be done to face the EU serious crisis –euro crisis, distrust of citizens, inadequacy of decision-making with 27 heterogeneous Member States, dysfunctional institutions.
The option to continue on the current path does not look promising, and a substantial revision of the Treaties is politically excluded.
Therefore, a two-speed EU should be considered, with an “avant-garde” of States, probably based on the euro area:
- In a softer version, using possibilities offered by the Treaties,
- In a bolder one, with an additional treaty to be ratified by these States, offering a better framework to act together, while fully respecting their EU obligations.
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