Europe is going through crisis after crisis (financial crisis, migratory crisis, terrorism and defence, Brexit, etc.), which may ultimately lead to its disintegration.
In a context of global macroeconomic tensions, it is vital that we address Europe’s growth prospects: are we in danger of secular stagnation? How can we increase Europe’s growth potential, promote long-term investment and adjust our monetary and budget policies? How can we make sure that social, societal and environmental issues are taken into consideration in a new development pathway adopted in response to future challenges?
Today’s Europe comprises de facto two or even three circles: countries in the Eurozone (19), countries in the European Union (28) and neighbouring countries. Bearing in mind the divergences between Member States in terms of their growth paths, economic competitiveness and social situations, how can we strengthen the governance of the Eurozone and create the conditions for economic, social and fiscal convergence?
While the distance between citizens and government is threatening democracy in Europe, the governance of European policies is under scrutiny. Greater involvement from economic and social players and from citizens is called for, within a system that leaves more room for deliberation.
Carole ULMER, Director of Studies