Thank you Mr Chairman.
The problem I have with this text, is that it transcends the politics of it – forgets the political and historical concepts, that have gone into this kind of construct we are discussing.
A technocratic approach is maybe interesting but at this stage we need political analysis on where the eurozone should be going; and who is benefiting from it and how; plus where the structural problems are.
The strategy (being followed in the management of the eurozone) is quite clear: you go through technocratic small steps, and then step after step you arrive at a situation, which has got to be consolidated.
But this misses the (the point that a) whole political design should be behind it and that (this) should come out as a result of political negotiations between the members of the eurozone.
I mean: we are really talking about federalism.
A federalism that does not want to state its name. And this is wrong.
It is wrong to go down the federalist route, without being quite clear that there has to be full scale political acceptance of this.
Technocratic approaches cannot be legitimized by the current structures we have.
The European Parliament for instance is not the institution which can legitimize democratically, what we are doing. And that is (being made) quite clear (by) the results we are getting from referenda and elections…
The real problem, that is not being faced is the disequilibrium in political-economic structures within the eurozone between the centre, east, west, north and south. And unless this (disequilibrium) is tackled in a political (and) economic way, we won’t proceed in ways that will make sense to people. Frankly I think the debate should be couched in these terms.
Ok, there would be the problem of “juste retour” (coming up): why not?
Why should that not be one of the (things – matters) to put on the table in this kind of context? It should be! Because at the moment structurally, the eurozone is operating as a monetary union that is not optimal. And it is going to be increasingly suboptimal as we go forward, unless we face the (political) problems Mr Chairman.
The design for us to have a fiscal capacity for the Eurozone is nice. But the political legitimacy and (the political) rationale for that do not really exist.
Thank you Mr Chairman.