04 May, 2018

Eighth Manifesto Forum: European Monetary Union

During the first half of 2018, a series of expert forums will be organised around Europe on topical matters and challenges facing the European Union, and will be conducted as the ALDE Party considers its manifesto for the 2019 elections to the European Parliament.

Experts in the respective fields from our member parties are warmly invited to participate in these meetings for sharing their views and actively contributing to the manifesto drafting process.

The eighth Manifesto Forum, organised by the European Liberal Forum in cooperation with Friedrich Naumann Foundation and the ALDE Party, took place in Frankfurt on Thursday 3 May. The main topical focus this time was on the Future of the EMU. The aim of the discussion was to understand the ongoing changes, emerging trends and their potential implications to set out possible concrete steps for deepening and completing the Economic and Monetary Union.

The Former Commissioner for Economic and Monetary affairs, Olli Rehn, opened with an inspiring keynote speech highlighting the fact that the current Eurozone crisis unveils huge problems in the institutions. Strengthening the EMU is should thus be seen as a broader goal in the strengthening of the European Union itself. In the future, he concluded, the EU need less of muddling through and more of getting reforms done.

During the discussions on The Future of the EMU, three main points have been highlighted: (1) the EMU has a future; (2) the EMU faces choices; (3) the EMU needs consensus.
The panellists warned about an upcoming crisis and the lack of preparation of the EU institutions to deal with that.

Iain Begg stressed the problems within the current EU rules – which are too many and too complex, not appropriate to the context and not enforced. In reforming the EMU he suggested to firstly identify the finality of the EMU to decide where we are going.

Lucia Quaglia, instead, highlighted that the EU has to consider the increased politicisation of the EMU discussion. Therefore, she said, it is important to pay attention to what is political feasible in the Member States.

Olli Rehn concluded stressing once again the need of reforming the EMU system in order for the EU to be prepared for the future challenges. Because, despite “the EMU is by no means perfect, [but] it is better than having nothing”.

Do you want to read a more thorough summary of the content of the discussions? Check it out here.

For an overview of all the expert forums coming up in spring , take a look here.

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