The European Union took further steps towards political and fiscal union last week as the European Commission put forward a rescue programme even more ambitious than the original Merkel-Macron proposal. European assets also benefited from the continuing economic recovery while growth stocks took a backseat. In our latest podcast, Ewout van Schaick explains how the European proposal represents a significant step forward on the path to European unity, in stark contrast with ongoing divisions elsewhere. “A unified Europe, a strong and large Europe, is the only way that we can deal with these increased political tensions.”