Profiles in European Denial
An impartial observer of the Meseberg Summit between Angela Merkel and Emmanuel Macron would conclude that the eurozone remains as macroeconomically unsustainable as it was five years ago. And yet Europe’s establishment, oblivious to the Nationalist International preparing to devour the EU, is serving it appetizers.
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ATHENS – Europe’s establishment is luxuriating in two recent announcements that would have been momentous even if they were only partly accurate: The end of Greece’s debt crisis, and a Franco-German accord to redesign the eurozone. Unfortunately, both reports offer fresh proof of the European Union establishment’s remarkable talent for never missing an opportunity to miss an opportunity.