Abstract: The long-term economic imbalances in EU countries is one of the main reasons for the 2008 European sovereign debt crisis. In 2011, the EU began to implement the economic rebalancing strategy-the Macroeconomic Imbalance Program(MIP), which has not fundamentally changed the EU economic imbalance. Most countries still have problems, such as severe debt imbalance and trade imbalance. The main reasons for the EU’s economic imbalance are the economic disparities in the EU countries, the inconsistency of EU internal policies, and Euro Circulation and labor mobility that increase economic imbalances. In 2017, the EU proposed the concept of multi-speed Europe. The main economic reason is the EU macroeconomic imbalance. Multi-speed European may become the future direction of the EU and will have a profound impact on European integration.

Key words: European Union, macroeconomic imbalance, European integration, multi-speed Europe