# In an op-ed, Nobel Laureate Prof. Michael Spence outlines the obstacles to economic reform in Europe

1 Faculty News March 19, 2013 ![Project Syndicate logo](/sites/default/files/styles/246w/public/assets/images/con_030500.jpg?itok=ONV7lJ6H)>

Excerpt from [Project Syndicate](http://www.project-syndicate.org/commentary/italy-s-election-and-europe-s-future-by-michael-spence) -- "No one doubts the depth of Europe’s official long-run commitment to integration. The huge design challenge is to find the right level of mandatory policy convergence – one that works economically and is acceptable politically."

[Read more](http://www.project-syndicate.org/commentary/italy-s-election-and-europe-s-future-by-michael-spence)