European Commission President José Manuel Barroso outlined the steps toward a genuine economic and monetary union (EMU) at a conference in Brussels, Belgium.
The conference was held to further the debate on the Commission’s blueprint for deeper union . Participants focused on economic governance, banking union and on democratic legitimacy and accountability.
"A lot of progress has been made over the last two years, more than anyone would have deemed possible before, but we were still missing a bigger picture of the changes or, even more, a sense of purpose to move forward on the road to complete the design of the EMU,” he said. “With its blueprint, the European Commission fills this gap and drives the agenda for a deep and genuine economic and monetary union.”
He added: "We do not have either the intention or the insolence to suggest we have all the answers. No - we want to start and fuel a democratic debate on where the future of Europe should lie."