More is better, right?
Highlighting the difficulties confronting the European Union, the document notes that, “in many parts of Europe, nationalism and populism are on the rise, while the feeling of solidarity and sense of belonging in Europe are dwindling.”
Its answer is more, not less, Europe.
In the economic sphere the document suggests more European oversight over the budgets of national governments, a single supervisory mechanism for euro zone banks involving the European Central Bank, and more powers for the European Parliament. It adds that the euro zone’s bailout fund should become a European Monetary Fund.