Europe adrift
Brexit is a symptom of the European Union’s internal disarray. In quick succession, the debt crisis, the Ukraine crisis and the migration crisis all challenged centralist visions of ever-deeper integration and soft-power expansion. The political mainstream’s abandonment of traditional values spurred a voter revolt toward populist movements. This turn inward comes as the rules-based order the EU embodies is coming apart globally.
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Focus Germany: Future of the French-German tandem
Brexit has raised expectations of renewed attempts at joint Franco-German leadership of the EU. Without Britain’s leveling role, however, the EU’s prospects under the Berlin-Paris tandem could depend on compromises between German ordoliberalism and French economic interventionism. Smaller member states are concerned that their interests would be shunted aside.
Question marks over the ECB’s governance
When Sabine Lautenschlaeger became the fourth representative of Germany on the ECB governing bodies to resign on former President Mario Draghi’s watch, the issues of his legacy and the collegiality in the EU’s central bank have come to the fore. Growing doubts over the bank’s stimulus policies combined with ignoring ...
The promises and risks of the EU’s single safe asset project
The launch of a Sovereign Bond-Backed Security (SBBS) is advocated by EU leaders as the best way to overcome the flaws inherent in the monetary union, which became notably obvious after the euro debt crisis of 2009. The SBBS is supposed to offer European investors new reliable stores of value, ...
Europe’s heedless foreign and security policies
European countries say they base their foreign policies on values – but doing so has led to inconsistency in how they treat international partners. Consequently, Europe has taken the wrong stance on military exports, the Iran nuclear deal and the U.S.-China trade dispute. Recent events, however, may have provided a ...
Opinion: Brexit and ‘peak populism’ in Europe
The UK Parliament’s moves to block Brexit from occurring without a deal on October 31, 2019, has prompted some to say that Europe has reached “peak populism.” As the British case shows, though, societies remain polarized and democratic rules continue to be bent. What happens next in the UK may ...
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More Disruptions
Expanding state
A trend toward increased government influence in economies and personal life is curbing growth, and freedom, in many Western countries. The outsized role of government results in misplaced incentives, overregulation – which restrains markets and competition – and irresponsible budgetary ...
Middle East politics
The region, one of the cradles of civilization, is going through a turbulent period of historic realignment. Its powers are vying for political, military, economic and religious dominance with local players and outside actors. Armed conflicts, mainly civil wars, are ...
