A few recent developments justify a certain optimism regarding the EU's ability to ultimately make a commitment on the indispensable re-balancing of the two legs of Economic and Monetary Union (EMU) and on the possibility of appropriately defining effective supervision of financial activity.
Towards European economic governance? We have been discussing the first problem for years. EMU's monetary leg is solid but its economic leg is weak and the whole thing limps along, to use to the...