The development of Brexit continues to be one of the main concerns for European politicians and institutions and the politics of austerity are back in the spotlight. In the meantime, the Hungarian referendum on the European migrant relocation scheme is approaching and in Germany the lack of public investments continues to be at the heart of political discussions.

For a successful and resilient euro, Martin Sandbu argues, the EU should set clear conditions for speedy and painless bank restructuring in the event of new crises, and explicitly abandon bailouts in favour of bail-ins.

At the end of February, Prime Minister of Hungary Viktor Orbán called a national referendum to reject EU’s plan for the relocation of migrants through a system of quotas. Hungarians will vote on October 2, and, even if not legally binding, the referendum’s result will be of great political importance.

In this ideas monitor, the state of democracy in Europe, Angela Merkel’s troubled waters, and after Brexit.