Updating the Maastricht Treaty may be a better option for resolving the eurozone crisis than political union and closer integration

Wide ranging proposals for political union and closer co-operation between EU member states have been put forward as a solution to the eurozone crisis. Heribert Dieter argues that this preoccupation with centralised forms of decision-making on economic issues is misguided and may bring with it several unanticipated problems. A better strategy would be to update the current framework under the Maastricht Treaty, particularly by creating a concrete mechanism through which states can leave the single currency.