The Cipher Brief: Is the landscape of unity within the EU changing and why?
Michael Leigh: The fundamentals of EU unity remain in place: the single market, the EU’s exclusive responsibility for trade, and the primacy of EU law over national law. The EU and its member states are the largest providers of development assistance in the world. The EU still does many things right. But the EU suffers from over-reach and a changing geopolitical setting.
The euro was set up for political reasons, following German unification, without the economic fundamentals being in place. A currency union requires fiscal transfers between …read more
Europe’s Changing Geopolitics
