In the wake of the financial crisis power shifted from politicians to the ECB, now it’s time for elected governments to address the underlying causes of Europe’s malaise. [...]
If you are a born optimist, you may have concluded by now that the euro crisis is over. Indeed, we have not heard much about it lately. No bailouts, no bank runs, no Greek elections. It almost feels like financial stability. If you are a realist, however, you would be looking at two figures and know that we are right in the middle of the euro crisis. [...]
Amid all other crises plaguing Europe at the moment, the financial problems engulfing Athens had temporarily slipped off the front pages. However, it was only a matter of time until they resurfaced. [...]
It could take a while until European leaders recognise that the answer to the failings of European integration does not always have to be even more integration. [...]
Europe is suffering from some strange delusions that are less apparent when you live there. That is because certain beliefs and self-images are repeated until they can no longer be questioned without turning yourself into a political pariah. In my new essay, 'Why Europe Failed', I am dealing with some of them. [...]
In the breathlessness of the euro crisis, it is easy to miss the wood for the trees. By looking at individual trouble spots, we may be ignoring the roots of the crisis. [...]
The continent that invented and dominated the modern world has gambled away its future. 'Why Europe Failed' is a sobering account of the Old World’s fall from grace. [...]