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Martin's avatar

Thanks for this clear articulation. A few thoughts.

If the Germans signal seriousness and urgency by properly deposing the reign of the debt break, and the EU more generally signals seriousness by creating a liquid market of eurobonds, I think this would be a hopefully checkpoint. But its not at all clear the European elites are fully bought in or have fully woken up from the end of history yet. Do you have a sense of what other critical points there are that show a serious urgency towards integration and an understanding of the historical moment, at least in political and financial terms? They have a marvelous world-historical crisis right now, and I, too, am afraid they will squander it.

Regarding pooling european security. I'm very curious how the european rearmament will suffer from disputes over how to allocate the benefits of such "military keynesianism" between different nations. In the US this has been solved by distributing the benefits across geographies, but with differing national defense champions, I wonder how this dynamic would play out.

I don't know who said it but someone once said Europe should become a large Switzerland, as a model for its future. Armed and ready, pro-social, and largely non-interventionist outside its sphere -- and importantly, able to conserve its own proclivity for provinciality (Switzerland is a country of small towns, in a real sense). This strikes me as at least a potentially correct rough sketch of what one model of europe could be, but who knows if that's even close to correct!

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Olga's avatar

Generally right on the money... except "absorbed by Russia" bit. This is off on so many levels. From Russia's POV, Europe is a hornets nest and Europeans may as well be aliens from outer space; Russia doesn’t want to "absorb" any part of it any more than you want to adopt a rabid porcupine. There are other means to eliminate threats or exploit things to one's benefit.

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