Economic Policy In The E.U.: More Bailouts, More Debt, More Crises -- Doug Bandow, ForbesBRUSSELS—Belgium’s capital dates back to the sixth century, but today the modern dominates. As the headquarters of the European Union, Brussels is filled with contemporary office buildings overflowing with meddlesome bureaucrats. What began as a system of economic cooperation has turned into quasi-continental government.
But the so-called European Project risks collapse. While establishment elites want more political integration, Europe’s financial crisis is turning its people inward. So far the E.U.’s confused response to Greece’s fiscal crisis has exacerbated the continent’s long-term economic and political problems.
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My Comment: Cannot disagree with this assessment, and it appears that the Germans are finally throwing in the towel.