Europe’s Nobel Wake-Up Call

Europe needs to revitalize its economy's building blocks – industry, human capital, and a sound policy framework. Unless this year’s Nobel Peace Prize enables Europeans to consolidate the EU’s strengths and establish a coherent vision of the future, the Union’s finest achievements will remain in the past.

MADRID – In a decision criticized and praised in equal measure, the Norwegian Nobel Committee awarded this year’s Peace Prize to the European Union in recognition of its contributions “to the advancement of peace and reconciliation, democracy and human rights in Europe” over the past six decades. But, to what extent is Europe preoccupied with “perpetual peace” at the expense of its current, vastly different ailments? Is this award a swan song –confirmation of the moribund state of the European project, as the 2001 Nobel Prize was for the United Nations?

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