Will the Euro Area be able to reform itself ? Macron/Merkel proposals are fight en by a group of countries led by the Netherlands. They refuse any cooperative instrument in the management of the Euro area.
On July 26, 2012 Mario Draghi said that the political construction of Europe was the most important element of the European architecture. He said, the most important in Europe is people’s will to live together. The euro currency was then just an instrument that supports this political construction.
With the reaction to the Macron/Merkel proposals, I am no longer sure of Mario Draghi’s assertion on the living together hypothesis.