Confronting Crisis in the European Union: A Fresh Start

In light of the severe crisis afflicting the European Union and the low regard with which the Union’s institutions are held by public opinion, Stefano Micossi and Daniel Gros argue in this Policy Brief that three critical areas stand out in need of clarification and fresh initiative: the common framework for policy coordination, the budget and the democratic deficit in European institutions. The chances of success would be enhanced by tackling these issues in the right order. They suggest that policy coordination should be addressed first since it has a crucial role in re-establishing support for the goal of integration; the new budget would then be able to better reflect policy priorities; and, finally, the debate on institutions would rest on more solid foundations with credible policy and budgetary frameworks in place.