Statist solutions are no longer sufficient to solve the problems of a monetary Union, and risk making Europe irrelevant relative to the other international and emerging powers.
As Olaf Cramme argues in the book “After the third way. The future of social democracy in Europe”, “social democracy must not underestimate the power of European integration at a time where the phenomenal pressures of globalization and far-reaching societal transformations are asking profound questions of all traditional political ideologies. At some point, a movement, initiative or policy idea will capture the attention of the wider European public. The center-left ought to make sure that it is part of it.”