This is comical the liberal in their perpetual confused state: "they are doing their very best!", "you couldn't do it better yourself!". The EU primary function is to serve capital interests to protect neoliberalism across the EU at all cost. It's the perpetual shock doctrine, thatcher politics for all, there is no alternative, dead-end, end-of-history, its what you would get when you put the IMF in charge of a continent. Literally everything is falling apart, the fascists scapegoat irrelevant migrants for the mouth breathing median-voter/peasant while the liberals are haplessly groveling at their imperial masters and censure Spain for being an unruly vassal.
You would not have the Euro if the IMF was in charge nor the many failures to have a single capital market. The EU, and politics that created it is much more complex than you think.