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Our common architecture of institutions, procedures and relationships has succeeded in giving Europeans what the founding fathers expected: not only peace, instead of bloody wars, but also greater prosperity for our citizens through the benefits of the common market. Decade after decade, these have been the reasons for the strengthening image of Europe.
Now a broader and deeper question has to be answered. Are we still convinced that, in the 21st century, staying together, working together and, therefore, finding common solutions to the issues before us will lead each and all of us to more prosperity? Either we still share that belief, or no technicality will save the indebted countries, the banks that own their bonds and, eventually, the euro and our common construction. The harsh reality that will challenge us more and more in the years ahead is a world in which the share of prosperity we Europeans, and our US partners, will enjoy will be limited by the growth of others and might in time not allow us to preserve the standards of living most of us are used to. Can the European dream, and the European glue, survive in such a profoundly changed context?
While coping with obstacles of a kind we never met in the past, some of us are asking ourselves if the EU does not belong to a past that is over. They are wrong. Dismantling Europe is not an option to cope better with the unknown we are starting to face. On the contrary: being freer, but also isolated and weaker, would leave each of us at the mercy of the wider world.
However, not even a veteran of EU treaty reform, as one of the authors of this article happens to be, would advise our current leaders to engage in it in the imminent future. The existing treaty offers legal bases and procedures by which the strengthened European policies that are necessary to support the single currency and promote our overall growth can be attained. On the basis of a common European vision (if we still share it), nothing more is needed.
Giuliano Amato is a former prime minister of Italy; Federico Ghizzoni is chief executive of UniCredit.
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