Publications 2016

25 years after Maastricht: defending the euro's political core

9 December 2016
Robin Huguenot-Noël (Policy Analyst)



25 years ago, the Maastricht Treaty set the objective to establish an Economic and Monetary Union (EMU). From the Werner Report (1970), which represented the first concrete proposal for a monetary union, to the recently published Five Presidents’ Report (2015) setting out a new roadmap towards a deeper EMU, the history of the common currency fully captures the spirit of European integration. First aimed at reducing barriers to trade on the continent, the euro has over the years become the European Union’s core integration project. In this paper, written on the occasion of the 25th anniversary of the Maastricht Treaty and the EU&ME 'Europe Calling!' Summit in Maastricht on 9 December 2016, Robin Huguenot-Noël discusses the most important achievements and shortcomings of the common European currency, and sees how the future of the EU is becoming inextricably linked to the fate of the euro. 

25 years after Maastricht: defending the euro's political core