Europe's Self-Interest, Unenlightened

Europe's Self-Interest, Unenlightened

Foremost among these conditions is a shared diagnosis of the EU’s problems and a common philosophy. Renzi and Schäuble, for example, have strikingly contradictory views on crucial issues, from fiscal policy to the banking sector. Renzi criticizes the EU, while laying the blame for the consequences of new creditor bail-in regulations squarely at Germany’s door. For the same reasons, French President François Hollande puts internal security first (possibly in line with the preferences of his electorate), and honors fiscal rules inconsistently. It doesn’t help that applying German or EU proposals on refugee policy would not exactly strengthen his re-election chances in 2017.

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