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The EU Paradox

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More smart stuff on the EU from Max Bergmann, as usual, and also from Matthew Yglesias. By now, it’s no secret that the EU suffers from under-developed political institutions. Neither is there any doubt left that the the Eurozone is severely (perhaps fatally) handicapped by the ECB’s structural inability to formulate recession-oriented fiscal policy. The former has traditionally been cause for glee and ridicule among Euroskeptics, but as the Gideon Rachman passage cited by Bergmann shows, the looming threat of meltdown has a sobering effect on even the most cynical of the Eurocrats’ critics. Of course, the East-West divide in […]

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