Solidarity Is Not What Europe Needs
As the COVID-19 outbreak in Europe worsened, the leaders of nine eurozone countries called for the issuance of “coronabonds” to help spread more evenly the additional debt governments would incur as they struggled to replace disappearing private incomes. But while the idea is sound, it was doomed by its proponents' justification.
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ATHENS – Even if Britain and America were never really divided by a common language, as George Bernard Shaw once quipped, contemporary Europe is certainly divided by a single word that was meant to represent the European Union’s foundation stone: solidarity.