Why this will be crunch week for Europe

THIS week's European Union (EU) summit could be one of the most important for the Brussels-based club. For on the agenda is not just Brexit, but also the future of the EU well into the 2020s, from a new five-year financial framework and a broader strategic agenda with the impending coming into power of a new European Commission President and Commission.

There are several key domestic debates about the EU's future underway, quite aside from the foreign-policy questions facing the union, from uncertainty over the trans-Atlantic relationship under Donald Trump to an increasing assertive Russia. This ranges from debates about rebalancing the union in a post-Brexit EU; the future of the euro zone and the Schengen; and whether the EU integrates, muddles, or potentially even disintegrates through the 2020s.

In the wake of Brexit (presuming the United Kingdom does indeed leave the Brussels-based club), the EU will need to reform to reflect the withdrawal of one of its largest member states. This has already led to suggestions on how to restructure the number of members of the European Parliament, qualified majority voting, the EU's budget, staffing and language requirements.