The ways to reform the EMU

peer reviewedof a set of reforms in the Economic and Monetary Union (EMU). The economic union is particularly concerned. The reforms implemented so far have been carried out without any change to the substance of the EU constitutional framework, given that they made use of both the extensive substantive scope of EU legislative decision-making power in the field of economic union and the development of institutional practices to fill gaps or complement the EU legal framework. In so doing, EMU developments are condemned to take place within the limits of constitutional provisions that are outdated in many respects, increasingly complex, confusing and unreadable. Achieving a genuine EMU means breaking out of this status quo. Constitutional revision is no longer an option: it is a prerequisite for the well functioning of EMU