The euro and the common monetary policy need to be supported by closer coordination of Member States' economic policies and by the ability of the euro area to speak with one voice. The Treaty of Amsterdam entered into force at the beginning of May, increasing the Union's capacity to act and strengthening its standing as a global player. The Treaty creates the preconditions for a stronger and more secure Union in the future. Its implementation is a substantial political challenge for the entire Union during the Finnish Presidency. Today, some dozen European states are seeking membership in the European Union.
Enlargement provides an opportunity to strengthen Europe's stability and well-being still further.
But at the same time, it demands a reform of the Union's internal policies in line with the decisions made at the Berlin European Council, and a strengthening of the Union's decision-making capacity. The Kosovo crisis has posed a threat to the security of the whole Europe and a challenge to the defence of fundamental European values. The Union will have a key role to play in relieving human suffering, restoring stable and just conditions and starting reconstruction. The crises in the Western Balkans have greatly strengthened solidarity between the peoples of Europe and awareness of their common responsibility. Citizens expect the Union to show a new effectiveness in crises prevention and management, a task for which the Treaty of Amsterdam provides new potential and instruments.