European Integration and the Future Institutions of Europe

This article summarizes a talk, given at the conference From Bretton Woods to Berlaymont: Globalisation, Integration and the Future of Europe, organized by KOF Swiss Economic Institute and ETH Zurich from 22-23 March 2018. It highlights the complexity and multidimensional nature of the question about the future development of the European Union. It argues that there is a need for rebalancing subsidiarity and supranationality, but that the assignment of tasks and the "optimal" degree of centralization has to be judged on a case-by-case basis, differentiated by policy area. Moreover, it emphasizes the need to draw a line between what is desirable from a scientific perspective and can be judged by objective standards and what is desirable from a political perspective, which will vary a lot with political preferences. Finally, it argues that, at least in the short-to medium-run, economic integration should be given priority over political Integration.