Euro crisis

A banking union to pool all risks

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. [...]

The opposite of Greece

The result of the Portuguese election suggests tough reforms and fiscal austerity can eventually pay off - politically and economically. [...]

Learning from Europe’s mistakes

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. [...]

The roots of Europe’s decline

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. [...]

Why Europe Failed

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. [...]

When monetary folly is not enough

After five tumultuous years of fighting the crisis arising from Europe’s monetary integration, leading European politicians are planning to go full steam ahead with the next level of integration. Their goal is the integration of fiscal policy. [...]

Now for the next euro crisis

Now that the Greek banks have re-opened, the third bailout package is on the way and something vaguely resembling normalcy is returning to Greece, we can finally deal with other things again: the euro crisis, for example. [...]