Published in Business Spectator (Melbourne), 28 May 2015
If the definition of madness is ‘doing something over and over again while expecting a different result’, then Europe is certainly going mad.
At the same time that European integration is heading for the rocks, the leaders of France and Germany are calling for more of the same.
There is a certain irony about it. Greece is edging closer to bankruptcy and a Grexit; Britain is preparing for its referendum on a Brexit. And yet, as if none of this mattered, German Chancellor Angela Merkel and France’s President François Hollande are preparing the next steps of European integration.
As French daily Le Monde revealed on Monday, Merkel and Hollande will propose an even deeper union between eurozone members at the EU’s next summit in July. A document prepared by their two governments suggests more coordination of economic, social and fiscal policies across…
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