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28/11/2015
Violence in and by Paris: any way out?
25/11/2015
Violence in and by Paris: any way out?
05/10/2015
Volkswagen deserves its day in criminal court
15/07/2015
La lezione di Solone, che Schaeuble non ha imparato
04/07/2015
Α hundred researchers from the European University Institute express solidarity with the Greek People
22/06/2015
Actually existing Europe
13/06/2015
Maledetto lavoro

The erosion of Europe

03/05/2013

Just weeks ago, the worst of the financial crisis in Europe seemed to be over. Stability seemed to be returning. But appearances proved to be deceptive. A minor problem (at least in scale) like Cyprus, when combined with an almost unbelievable degree of incompetence among the “troika” (the European Commission, the European Central Bank, and the International Monetary Fund), was enough to turn a molehill into a mountainous crisis.

While markets remained calm, the Cyprus crisis revealed the full extent of the political disaster that the eurozone crisis has wrought: the European Union is disintegrating at its core. Europeans’ current crisis of confidence concerning Europe is far more dangerous than renewed market anxiety, because it cannot be overcome with another liquidity injection by the ECB.

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