Empire, Al-Jazeera, June 14, 2012
As Europe’s crisis worsens without any solution in sight is a shift in political power a sign of hope on the horizon?
The financial crisis in Europe has been deepening by the day, yet European leaders cannot seem to agree on how to fix it. To date European leaders have convened 19 emergency summits to resolve the continent’s financial crisis. But none has worked out.
At the centre of the EU’s crisis is the euro – the symbol of Europe’s dreams, as well as its unfolding nightmare. The predictions are also increasingly dire as critics proclaim that the single-currency project has clearly failed, leaving the future of the euro hanging in the balance.
Some of the fundamental questions pertaining to the single-market policy remain unanswered. Who led Europe into this crisis? Who can lead it out? Is Brussels the centre of European power, or is it Paris, Berlin and London?
The worsening European financial crisis also raises questions as to whether Greece and Spain are the cause of the problem in Europe.