Watching this video one comes away with the impression that Europe has to do something quick. We need other institutions, better suited to our European economy. Recently, the German and French central bank presidents proposed a European Treasury. They are not the first ones, a Euro Treasury has been mentioned in the Five Presidents Report and in a paper by Jörg Bibow. A day after the central bankers voiced their ideas Yanis Varoufakis and others created the Democracy in Europe Movement 2025, also with the idea to change institutions:
Finally, there is some movement in Europe. Whatever you think about the euro zone, it is clearly a failure and it is good progress that this now seems to be accepted.