Luigi Zingales sent SOS signals to Europe /FT, 6 April 2020/. However, the game is over.
The strategy of the founding fathers worked for a while. They used all previous crises up until the introduction of the euro quite well to build an ever closer union of European nations.
In the meantime, however, they could not create a pan-European national sense. By definition, a common currency is not able to forge one unified nation out of many.
The euro challenged the globally leading position of the dollar and the Americans launched new types of attacks against the rebellious Europeans. This new geopolitical warfare resulted in a series of unsolvable crises in the EU.
Sorry, the next ones are coming soon.
Re “EU must forge a national sense in the crisis or it will die”
Governor Matolcsy, MNB, the National Bank of Hungary
