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2016-03-28

Europe’s political leadership failed to generate the public support for what was needed: creating a political and economic union. Wolfgang Münchau


The cardinal mistake of our time was the decision to muddle through the eurozone crisis. 

Europe’s political leadership failed to generate the public support for what was needed: creating a political and economic union. 

With hindsight, the EU was wrong to construct a single currency without a proper banking union. 

It was wrong to create a passport-free travel zone without a common border police force and immigration policy.

I would add EU enlargement to this list — not the principle but the haste with which it was pursued.




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