Europe’s Defence Dilemma: Why Fiscal Union Is No Longer Optional
Without radical institutional reform, Europe cannot mount the defence it desperately needs against an increasingly aggressive Russia.
Without radical institutional reform, Europe cannot mount the defence it desperately needs against an increasingly aggressive Russia.
Europe must balance rising defence needs with social spending, or risk political turmoil and far-right gains.
The new EU fiscal rules being finalised would still leave central- and eastern-European states such as Latvia in a bind.
The proposed new rules would give member states more role in defining their ‘fiscal paths’—just not parliaments.
In going along with rate rises, European governments are saving the European Central Bank—not their societies.