Numbers, Facts and Trends Shaping Your World
Today, it is the European Union itself that is the sick man of Europe. Efforts over the past half-century to create a more united continent are now the principal casualties of the ongoing eurozone crisis. This creates yet another complication for European leaders as they attempt to craft a way forward in dealing with the economic and political consequences of the ‘Great Recession’.
The euro crisis has exposed a range of intra-European problems long hidden from the harsh light of day. Not the least of these is German exceptionalism. Over the last two generations one goal of the European project has been to narrow the differences between Germany and the rest of Europe. But recent economic difficulties have only amplified those dissimilarities.
A major casualty of the euro crisis has been Europeans’ faith in the fairness of their economic system. In what is now the fifth year in the wake of the Great Recession, Europeans believe that inequality is now a major problem in their societies and think that things will only get worse.