Europe is at a crossroads. Our preoccupation with the fiscal crisis comes at the expense of the broader EU agenda. We must unite to engage citizens and address the pressing issues of foreign policy, energy, immigration, growth and employment, and other ignored priorities.
Tony Blair is the former British prime minister. Jacques Delors is the former president of the European Commission. Gerhard Schroeder is the former German chancellor. They are members of the Council for the Future of Europe, which released this statement in Brussels on Monday, Sept. 6. Other members who signed this statement include Felipe Gonzalez, former prime minister of Spain; Guy Verhofstadt, former prime minister of Belgium; and Mario Monti, a former European commissioner for internal affairs.
Europe is at a crossroads. It is a moment of choice for both the 17 countries of the eurozone and the 27 countries of the European Union. The eurozone needs to decide whether it will move in the direction of a more comprehensive fiscal and economic union or risk a breakup that would put in danger the whole European integration.
The European Union needs to decide whether to promote growth, speak with a common voice on global issues, and play a significant global role in the 21st century, or accept that the world will move on without us. Not making a decision and taking action on these fundamental questions will weaken Europe as a whole and its member states individually, including the larger ones.
It is important to emphasize that, despite the recent difficulties, the European project has been a tremendous historical success. European integration has brought peace and stability to the continent to an extent unimaginable only a generation ago. It has been an economic win-win all across Europe. For all countries, membership in the European Union has meant dramatic rises in the standards of living, while countries in the core have equally benefited from an enlarged and integrated market.
Today the European Union, with more than 500 million people, is the largest common market on the planet and a model for other regions. It is for the sake of preserving and furthering this historically successful project that we must deal boldly with our current challenges.
Several members of this group were present at the creation of the European Union and its single currency. They have joined together with the rest of us as Europeans first and foremost to send a message that a revitalized vision of a truly integrated Europe is the best way out of the present crisis of governance. Nothing can be resolved by a north vs. south, us vs. them mentality.
Meanwhile, our preoccupation with the fiscal crisis comes at the expense of the broader EU agenda. Whether it be foreign policy, energy, immigration, or plans to stimulate growth and employment, many priorities are largely left ignored.
There is no greater task for forward-looking European leadership than honestly engaging the doubts and anxieties of European citizens who feel disconnected and alienated from the abstract processes in Brussels. The vision of Europe that will succeed is that which inspires the commitment of its citizens whose faith in a European future is shaken.
A forward-looking approach that inspires confidence instead of doubt must include short-term steps as well as mid-term and long-term goals. The necessary short-term steps will only be credible if there is every assurance that the medium and long-term steps will also be implemented.
In the short-term, further market contagion needs to be avoided. Therefore, rapid implementation of the July 21 decision to allow the stabilization facilities to intervene with precautionary measures is of critical importance. In addition, the size of the existing facilities needs to be expanded. By 2012, these facilities should be transformed into a full-fledged European Fund.
The eurozone must practically ensure that the banks that need it are properly capitalized, including through private-sector participation.
It has become clear that a monetary union without some form of fiscal federalism and coordinated economic policy will not work. Nation states will need to share certain dimensions of sovereignty with a central European entity that would have the capacity to source revenue at the federal level in order to provide Europe-wide public goods.