Europe’s Crisis of Leadership
The global financial crisis has already highlighted both the strengths and the weaknesses of the European Union. To maximize the former and minimize the latter, the December 11-12 European Council should signal clearly the timetable envisaged for re-opening the Lisbon Treaty’s ratification process.
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BRUSSELS – The global financial crisis has already highlighted both the strengths and the weaknesses of the European Union. Had it not been for the euro, the shock waves from the meltdown of September and October would have spread to the currency markets, creating tensions that would have set Europe’s political and economic integration back by decades, perhaps imperiling the whole project.