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This chapter analyzes the rules and institutions that have characterized the European Monetary Union (EMU) during its prolonged crisis, stressing the limits of the strategy pursued by the European authorities. It also examines the issues of current account imbalances, economic growth and the problem of debt, and their interconnections. The main purpose of this chapter is to indicate feasible economic solutions and political arrangements in order to complete the institutional system of the EMU. This requires appropriate reforms of its institutional architecture. But such reforms demand changes in the treaties in order to make the Eurosystem more consistent and endowed of democratic legitimacy, so to have appropriate tools, resources and policies that can contribute to the stability, cohesion and development of the Eurozone.

Tourism is growing globally and expanding into increasingly differentiated thematic areas and places that have thus far been unknown. The Mediterranean region is one of the leading tourism areas in the world accounting for one-third of global tourism receipts and half of global tourism arrivals. However, the countries of this region, undoubtedly attractive for their natural and cultural sites, history and traditions, must face the continuous challenges that the highly competitive global market and the sustainability of the environment and resources pose.

This chapter aims to examine and discuss the relationship between tourism and economic growth in the Mediterranean region, specifically, the issue of economic growth led by tourism and its central focus in public policy. The tourism–economic growth relationship will also highlight the different challenges between the developed and the developing countries. The relationship between tourism and sustainability in the Mediterranean region is the second theme of this contribution. The concept of ‘slow tourism’ as an operational proposal for sustainable tourism is also discussed; specifically, the natural environment and the cultural heritage need to be preserved by all tourism stakeholders.