The ad-hoc solutions put forward by European leaders have failed to pull the continent from its economic crisis. As uncertainty continues, it is clear that only a decisive shift to a strong, democratic EU can save the Euro and guarantee the Union’s future. However this process must take place in a way that is open and transparent if it is to succeed.

In the short term, the crisis requires all our attention. But the political actors should not forget the structural defects of the monetary union.