The contrast between Otmar Issing's pre-union approach (requiring political union first) and Tommaso Padoa-Schioppa's crisis-as-opportunity approach (using crises to incrementally build necessary institutions) represents two fundamental strategies for integration, with both having merit.

definitionpending

Speaker

William White

Evidence Quote

Otmar saying um we need to have these unions particularly political union beforehand... Tomaso uh was much more... yeah there will be crisis along the way... But each crisis we'll use to to make progress

Source

Former Chief Economist (BIS) Explains Monetary EndgameReinvent Money
Created: 8/11/2026, 7:24:53 AM

My Notes

Loading notes...