Daily Archives: June 20, 2011

At the roots of the eurozone crisis lies of course the past
 indiscipline of specific member states. But 
such indiscipline could simply not have occurred without two
 widespread failings by governments as they sit at the table of the 
European Council: an unhealthy politeness towards each other, and
 excessive deference to large member states.

This week will tell us whether this lesson – which is even more
 important for the future of the eurozone and the European Union than a “solution”
 to the Greek crisis – has been learnt. The events to watch are the
 Ecofin Council on Monday and the European Council meeting of EU leaders on Thursday
 and Friday. Continue reading »