By implementing them, the EU confirmed its readiness to change everything in order to keep everything the same – or, more precisely, to avoid the one change that matters: the creation of a proper fiscal and political union, which is the prerequisite for managing macroeconomic shocks and eliminating regional imbalances. Which is why even folks who are constructively critical or sceptical of the EU’s merits call for the creation of the necessary legal-institutional arrangements at the supranational level to ensure the viability of the euro, namely, the creation of an EU fiscal capacity that can have its own debt and issue the corresponding financial instruments (let’s call them “eurobonds”), eventually culminating in a European government.