Anne-Marie Slaughter — Europe’s Civil War

The negotiations leading up to the latest tentative deal on Greece’s debt brought into relief two competing visions of the European Union: the flexible, humane, and political union espoused by France, and the legalistic and economy-focused union promoted by Germany. As François Heisbourg recently wrote, “By openly contemplating the forced secession of Greece [from the eurozone], Germany has demonstrated that economics trumps political and strategic considerations. France views the order of factors differently.” The question now is which vision will prevail?

The Greeks, for their part, have been putting their national identity ahead of their pocketbooks, in ways that economists do not understand and continually fail to predict. It is economically irrational for Greeks to prefer continued membership in the eurozone, when they could remain in the EU with a restored national currency that they could devalue.

But, for the Greeks, eurozone membership does not mean only that they can use the common currency. It places their country on a par with Italy, Spain, France, and Germany, as a “full member” of Europe – a position consistent with Greece’s status as the birthplace of Western civilization.

What does rational choice theory say about this?

Just before the final round of the recent Greek negotiations, French President François Hollande said that he did not want a Europe that “no longer progresses.” Fair enough. But progress toward what? Toward liberty, equality, and fraternity for all of Europe? Toward the dignity and solidarity of all European citizens? Toward a shared European house that is kept in order?

Project Syndicate
Europe’s Civil War

Anne-Marie Slaughter, a former director of policy planning in the US State Department (2009-2011), President and CEO of the New America foundation, Professor Emerita of Politics and International Affairs at Princeton University, and a member of the World Economic Forum Global Agenda Council on the Future of Governance