As a global economic powerhouse, Europe is facing constant challenges. In particular, it is the demographic development, new technologies and financial crises as well as the globalised economy with new competitors which endanger the competitiveness of the European economies.
Yet we also have incredible advantages in Europe. They arise from the diversity of our cultures and create a space for education, creativity and entrepreneurship. However, Europa will have to grow together more closely in order to put these advantages to better use.
For that, further integration of our markets is needed. We need a deeper political union and a stronger currency union. The key to that is a common fiscal policy for the countries in the Eurozone.