Ansgar Belke discussed the "Future of Europe" on a high-level panel in Madrid, Funcas, on November 22, 2017, with Luis de Guindos, Spanish Minister of Economy, Industry and Competitiveness, Carlos Ocaña, Director General of Funcas, and Peter Bofinger, University of Wuerzburg and Member of the German Council of Economic Advisers. In the vivid and partly controversial discussion, he concluded that the reform progress and results in the Euro area are disappointing.