What does Europe need to do to survive (and thrive)?
The flawed design of the euro zone has made Europe’s recession more acute than America’s, and a collapse of the euro zone would drag the rest of the world economy down with it. But why haven’t Europeans shown the political will to save the euro zone by moving toward closer fiscal and political union? What happened to the forces that drove the project of European unification forward over the last 60 years? And, if those have faded, where might Europeans find new inspiration?
As I recently argued in Foreign Affairs, the five great drivers of European unification since the 1950s have now either disappeared or lost much of their energy.