This is a parliament - you want to increase the number of possible different voices able to speak in it. Proportional representation along EU-wide ideological lines is preferable to proportional representation along national lines. What is gained by having 64 as opposed to 49 Germans? Not much in terms of representation of views. Whereas having 4 instead of 2 Maltese may be the difference between getting a single -party or a 3-party Maltese delegation. 2/3 of the seats on EU-wide lists will ensure ideological balance.

The peak-to-trough part of the business cycle is an outlier. Carnot would have died laughing.