Abstract
In the 2010 Wincott Lecture, the author – a former European Commissioner – explains how the process of policy-making within the European Union can be improved. In order to gain the full benefits of an open and integrated single market, the EU must stop interfering in areas that should properly be the responsibility of member states. However, in the context of the current economic crisis, the EU should take a greater role in financial regulation and in ensuring fiscal responsibility among members of the eurozone.
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