In this interview, the Jacques Delors Centre's Deputy Director takes stock of the failures and opportunities in relation to EU integration.
Thirty years ago, the Maastricht Treaties came into force, which are considered a milestone in the history of European integration and, among other things, introduced the European Economic and Monetary Union.
“It has to be said clearly that less has happened on the financial and budget policy side than on the currency and monetary policy side,” said Nils Redeker. This is a “birth defect of Maastricht”, according to Redeker.
“At the same time, you also have to say: the currency is now 20 years old, it has since gone through the financial crisis, through the euro crisis, through the pandemic, most recently through the energy crisis, and it is still a very strong and popular currency,” Redeker explains further.
The core problem with the last steps, such as the COVID-19 reconstruction instrument, is that they are a temporary, but not a structural and permanent answer. “But I am optimistic that this debate in particular is turning around a bit,” says Redeker. Europe must now invest massively in order to achieve common goals, for example in climate transformation and in industrial and security policy.
Listen to the interview (in German).