A Euro for Citizens

DABATE

The economic downturn that has been affecting Europe for nearly a decade is the result of market behaviour and deliberate policy choices, particularly those taken by the European Monetary Union over the last 30 years. Based on unrealistic hypotheses and lacking administrative oversight, goals and mandates, the EU has, since 2008, sought to implement tight, recessionary monetary policies, the impact of which has been detrimental. This has caused inevitable resentment among citizens, leading to protest votes and anti-European referendums, the likes of which can neither be explained or dismissed as simple “populism”. Europe is now facing a difficult trilemma: to continue with the failed project followed thus far? Break up and pursue nationalist agendas? Or set off along the difficult path of self-reform? The third option implies a good dose of optimism, but nevertheless belongs to the kind of utopian thinking that is required, namely to scrap Maastricht and return the despised Euro to Europe’s citizens.