Seizing the moment for euro area reform: a three-step action plan

On 31 May, the European Commission published a reflection paper on the deepening of the economic and monetary union. Henrik Enderlein, Enrico Letta and Aart De Geus outline proposals that they believe should have been contained in the paper. Their plan includes three key building blocks for a lasting and workable reform: a first aid kit, a structural reform and investment agenda, and significant risk-sharing.