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Beset by critics and buffeted by economic woes, European Union chiefs might have been forgiven for thinking that at least Pope Francis would apply some balm for the New Year in his address to the EU parliament.

Not so. Even the pontiff spoke of a continent that was "elderly and haggard" facing a world which "regards it with aloofness, mistrust and even, at times, suspicion".

Little wonder that many in Europe hope that 2015 is the year the fortunes of the 28-nation bloc bottom out and things finally look up again.

Certainly, the EU has the zest and energy brought by a new team, headed by the no-nonsense Donald Tusk, once an activist in the Solidarity movement before becoming democratic Poland's longest-serving prime minister. He is expected to add visibility to the EU presidency as he takes over from the colourless Herman Van Rompuy.

The new president of the EU's executive, Jean-Claude Junker, replaces the long-serving Jose Manuel Barroso. Junker, a former Luxembourg prime minister, says his "last chance Commission" needs to streamline bureaucracy to connect with its half billion citizens.

But the best-laid schemes were already starting to unravel with the approach of the new year.

Greek Prime Minister Antonis Samaras recently promised that Greece would not "gamble" with its recovery from financial crisis. Now, the country at the heart of the EU's economic woes has done exactly that. Parliament has failed failed to approve a new president, forcing the government to call early elections for January 25 - a poll that could re-ignite Europe's sovereign debt crisis.

An election that may bring to power leftists opposed to Greece's harsh bailout conditions could dampen the enthusiasm generated by a December EU summit that created a strategic investment fund to kick-start the EU's sluggish economies and generate job growth.

Instead of plotting a bright future, the EU could soon be plodding through one crisis after another again.

Yet in a sense, it has always been this way.

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Troubled EU hopes the only way is up

Jim Willie: Derivatives Casino Is Wobbling Tower
World News USA News America News Russia News Europa News BBC CNN RT France 24 JSC ISIS UK Obama European Union UK David Cameron Putin Army Syria Iraq Libya E... I play my first ...

By: AlexJones Channel 2015-16

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Jim Willie: Derivatives Casino Is Wobbling Tower - Video

Clearly, the EU can only continue to make sense if it can work as a multi-currency union. But Europe is about more than just its currencies it is bound by shared values, a common history and it offers an unparalleled free trade zone.

I would urge that we consider future EU policy as being equally grounded in its two grands projets: the eurozone and the single market.

Only by protecting the primacy of the single market through such labours as appointing a single market chair (ideally from a non- eurozone country) to the Council of Ministers, can those who stand together outside the eurozone have an attractive enough foundation for ongoing enthusiastic EU membership.

So reform is happening already but perhaps not in the way that many envisage and, worryingly, without the notion of a coherent end within sight. This requires urgent attention.

Second, the ambition of the new EU Commissions mandate is critical for the long-term health of the European project. The last commission rightly focused on economic stability and had to step in to resolve the financial crisis, and austerity measures followed. This political necessity was punished by the rise of populist parties across Europe. Suddenly, Europe seemed far distant from its peoples and had little to do with everyday lives.

A commission and parliament that simply focuses on better administration and more efficient ways of tinkering in small details will let down those who need a brave vision of Europes place in the world, and which translates its value to them on a human level. Policies to tackle youth unemployment, rebuild failing infrastructure and which lead to market-opening trade deals would all contribute significantly to boosting much-needed economic activity.

As if to heed this challenge, the new mandate has some bold and interesting ideas. Not only has President Juncker reshuffled the commissioner deck in a way that has shown himself to be a shrewd operator, but he has also set them the right challenges: to focus on the creation of jobs, drive economic growth and make the EU globally competitive. He has awarded Lord Hill the financial services brief and recognised that this must be an endeavour of the 28, not just the 18.

The parliament seems willing to rise to the challenge. But these brave first steps must lead to concrete policies that lay the foundations for growth, such as the Capital Markets Union.

The UK should step forward to lead this potentially most single market of initiatives as London is the natural home of Europes capital markets. A failure to do so would risk further cutting us off from the reforms being played out.

Third, thoughts of European reform are not a curiously British pastime. When I meet business leaders in other member states, they are ambitious about fixing the EU bureaucracy, too. Holland just underwent its own version of the UK Governments balance of competences review and other member states are paying close attention.

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The UK can lead reform of the European Union

EU Countries Agree on Financial Framework
http://www.learning-englishonline.com/ EU Countries Agree on Financial Framework From VOA Learning English, this is the Economics Report in Special English.European Union countries have ...

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EU Countries Agree on Financial Framework - Video

IR477 - Law and Institutions of the European Union - Lecture 7.1
Course: Law and Institutions of the European Union Lecture Subjects: Instructor: Asst. Prof. Dr. Baak KALE For Lecture Notes: http://ocw.metu.edu.tr/course/...

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IR477 - Law and Institutions of the European Union - Lecture 7.1 - Video