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Heise: “Europe must come together”
“No one, not China, not the United States, will wait for 28 different opinions to come out of Europe on important regulations concerning the global economy,” says the Allianz chief economist in our video interview, responding to a question on the political importance of Europe in the future.
Make the call, but who will answer?
Heise states Europe is still plagued by Henry Kissinger’s famous question: “Who do I call if I want to talk to Europe?” Heise believes this is still a massive hurdle Europe needs to overcome, but that the integration of the European Union will be stronger ten years from now. The Union will be stable and possibly enlarged, while the euro zone will include present members and possibly “a few others”.
On the euro zone crisis, Heise acknowledges that fiscal issues can be disintegrative. However, there is no alternative to reaching an agreement, he argues. “Europe must come together, must speak with one voice, and it must take steps towards more political and fiscal integration.”
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