Multi-Speed Europe Future of Eurozone

The term European Commission’s Glossary: "Multi-speed" Europe is the term used to describe the idea of a method of differentiated integration whereby common objectives are pursued by a group of Member States both able and willing to advance, it being implied that the others will follow later.

The concept After the Cold War Eastward enlargement of the European Union Widening and deepening In 1994, Christian Democrats’ document! “core Europe” has been debated for years.

Europe today Financial issues Low GDP Low growth High unemployment Government deficits and high levels of debt Fundamental questions

Global trends Continuing rise of East Asia Emerging market economies in these regions

Four Scenarios on the Future of the Eurozone 1.Struggling on the Crises 2.Break-up of the Eurozone 3.Core Europe (Multi-speed) 4.Fiscal Union Completed (Federal Europe)

Four Scenarios on the Future of the Eurozone North (Norway, Sweden, Finland, Denmark) West (Netherlands, Belgium, France, Germany, Switzerland, Austria, Italy) South (Ireland, Portugal, Spain, Greece, Malta) East (Poland, Czech, Slovakia, Hungary, Bulgaria, Romania etc.) UK

Struggling on the Crises “Reduced government” Very low growth in Europe 1% Lately, exports and financial investments

Break-up of the Eurozone Zero GDP growth long term Weak investment and exports Reduced income per capita Declining employment rates Higher unemployment

Core Europe (Multi-speed) Less competitive member states to leave euro zone GDP growth and job creation reduce unemployment number

Fiscal Union Complete d (Federal Europe) Structural and fiscal policies restoring GDP growth high level of employment

Arguments For and Against a two-speed Europe AGAINST a two-speed EuropeFOR two-speed Europe Perpetuating Divisions Core Values Undermining Solidarity Recognising Reality Too Complex One Size Does Not Fit All Building In Weaknesses Fast, Flexible And More Efficient

AGAINST a two-speed Europe Perpetuating Divisions Undermining Solidarity Too Complex Building In Weaknesses

FOR two-speed Europe Core Values Recognising Reality One Size Does Not Fit All Fast, Flexible And More Efficient

Manuel Barroso’s idea!

I think European Commission’s Glossary: "Multi-speed" Europe is the term used to that the others will follow later. “Perhaps, you will see even smurfs if you become good boys.”

What happening now!