Blair did alot to modernise and streamline politics in the UK and devolved power away from the centre to the Scots and Welsh, if he could do the same To the EU then he will have improved it 10 fold.
Having said this, it would have to be a directly elected position to have any ligitimacy in my eyes, and the danger of that is that each country votes for its country's own candidate, and it ends up with the country with the highest population (i.e germany) deciding the vote. Unless they use more complicated and balanced voting system such as Single Transferable Vote or Aditional Member.