To understand that, we must look again at the economic nature of the euro in order to grasp what its political utility might be. The fact that the goals of monetary union are “political” is not in itself sufficient justification for the union. We would also need to clarify what is meant by “political,” how this might offer advantages worth the sacrifices entailed, and for whom.
The adjective “political” actually covers several different meanings and here we use mainly three, corresponding to as many motivations guiding collective choices in different polities. These can be defined as follows:
(A) The pursuit of the interests of the population as a whole, that is to say, mainly, improving