Enrico Spolaore, 25 July 2015

The idea that Europe’s challenges could be addressed with further integration dates back to the beginning of the European project. This column argues that partial integration might not necessarily lead to more integration. In particular, such a strategy might not be successful in areas involving high heterogeneity costs that do not necessarily reduce with more integration. If further integration is to take place, European institutions may need to accept much more flexibility and have provisions not only for entry, but also for exit.

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