ECB’s Praet: Notion that Euro provides stability, security weakened by gaps in governance

The European Central Bank (ECB) outgoing Chief Economist Pere Praet was on the wires last minutes, via Reuters, with the key headlines found below.

Things were not better before the European monetary union.

They were worse.

The notion that Euro provides stability, security weakened by gaps in governance.

The long run solution most likely involves deeper fiscal integration, now we can complete banking union.