The European Union is a voluntary quasi-federation of sovereign and democratic states in which elections matter and each country seeks to determine its own destiny, regardless of the wishes of its partners. But it should now be apparent to everyone that the eurozone was designed with a very different institutional arrangement in mind. Indeed, that design gap has turned out to be a major source of the monetary union’s current crisis.Read the rest at Project Syndicate
Democracy versus the Eurozone
by Daniel Gross | Director of the Brussels-based Center for European Policy Studies.