Throughout the Eurozone crisis, France has been well served by its decisive presidential system. But as thoughts turn to reforming the way the Eurozone works, France must come to terms with the power implications of a more federal system.
The European Union’s combination of crises – of finance, politics, and identity – makes the once unthinkable a real prospect: Europe is not “too big to fail”. What then should concerned Europeans do to ensure their continent's survival and progress?
How might European disintegration play out if we do not learn from past folly? Uncontrolled collapse, a decisive jump forward leading to a big step back, or disintegration in disguise due to benign neglect?
Europe's economic troubles have forced it to continue looking to China for financing. But Beijing, which is thought to hold up to 30 percent of its reserves in euros, is driving an increasingly hard bargain.
The European financial crisis is not just about the immediate debt problem: it's about Europe's longer term viability in a more competitive world. For the sake of future European generations we need to start the hard bargaining process over real and painful reforms straight away.
In this contribution to an online Economist debate on the future of the euro, Thomas Klau argues that the single currency is indispensible if Europe is to punch its weight on the global stage in the 21st century.
Understandably, European governments are rethinking their aid budgets in the light of the economic crisis. But any cuts to aid and foreign ministry budgets should be judged according to results rather than a simple cost calculation.
The longer term challenges for Europe's politicians are to contest real power at a European level and be honest with voters about the issues confronting the continent in the 21st century.
In an article for the Financial Times, George Soros argues that European leaders now need to search for an alternative to the crisis that has spread across Europe. This 'Plan B' for Europe will be a European solution, rather than the national solutions that so many are looking for.
As EU leaders gather in Brussels for the European Council meeting, they need to remember that their efforts to save the euro do not just affect their impact at the next elections, but also their long term legacy. Buying time and muddling through are no longer enough.