Euro Area Governance: What went wrong? How to repair it?

The reform of euro area governance has been chosen by the heads of state and government in the EU as a topic for immediate discussion and swift decisions. The European Council in Spring 2010 asked president Van Rompuy to chair a task force on euro area governance. The task force is due to deliver a progress report to the June 2010 European Council.

Any serious discussion on it must start from an analysis of what went wrong.