The Economic Governance the EU Needs
If European countries are to emerge stronger from the current crisis, they need to think bigger and put more faith, not less, in the collective enterprise that is the EU. After all, European unification was conceived as a project of pooled sovereignty, not surrendered prosperity.
BRUSSELS – Two lessons have emerged from Europe’s financial crisis. First, there is no substitute for timely and coordinated action when the single currency is under pressure. Second, all eurozone countries are effectively in the same boat. If the boat springs a leak, everyone sinks.