Towards a comprehensive, inclusive and legitimate framework for European economic governance

The immediate problem facing Europe, and in particular the Euro area of 17 member states, is to deal with crises affecting a number of countries, most recently Cyprus, but continuing in Greece, Portugal, Ireland, Spain, and possibly Slovenia. This has required a range of policy responses at both national and European level to contain and mitigate the crisis. But in the longer term the frameworks and institutions governing the EU and the Euro area need to be strengthened.