In a commentary, SMU Adjunct Professor and Institute of Southeast Asia Studies Visiting Senior Research Fellow Joergen Oerstroem Moeller pointed out that while the EU has suffered several crises, it still has good fundamentals, as it brings law, transparency and accountability to an international level, addressing problems that economic globalisation has brought upon its citizens. He highlighted that though many criticised the EU when it stepped in to save a bank, the cause was usually from Wall Street. Speaking on sovereignty in the era of globalisation, he noted that European countries could not have tackled the economic crisis alone, and while it continued searching for compromises and consensus, the EU had eventually reached a state of political maturity. Prof Moeller cited the EU’s role in preventing confrontations of ethnic and religious natures when the Soviet Union collapsed, and said that it had shown how soft power could work. He concluded by stating that the EU has become a grand enterprise that offers itself as more than a trade forum, but a societal model that the world can observe and learn from.