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2016-03-15

Dutch and French voters rejected the EU constitution in 2005. Still, European leaders charged ahead, leaving the masses behind.

The EU ideal was taken for granted rather than explained and marketed to the public.

The introduction of the euro without banking and fiscal union further undermined the long-term viability of the European project.

The very fact that Greece, representing less than 2 percent of Europe’s GDP, has preoccupied all of Europe and threatened to derail the entire euro project is symptomatic of Europe’s inability to act decisively and find solutions

Rather than disintegrating, Europe should create an even stronger union

Ideally Europe would move speedily toward supplementing its monetary union with a full-fledged economic, fiscal and political union, but this is politically infeasible in the short run.

Jan Svejna, EE Observer, 11 March 2016

professor of global political economy studies at Columbia University’s School of International and Public Affairs in New York


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