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Thursday, May 24, 2012

''The Seeds of the EU’s Crisis Were Sown 60 Years Ago''

From Bloomberg

''The overriding goal for a Europe in ruins after 1945 was to create a secure zone of peace and prosperity. Reconciliation between France and Germany, formerly bitter enemies and sure to be the dominant economic entities in a new Europe, was vital. As a matter of the highest priority, the two countries formed a close alliance, and began building a new united Europe around it. They started modestly in 1951 with the European Coal and Steel Community, but entertained bigger ambitions at the outset. As early as 1957, the Treaty of Rome enshrined the notion of “ever closer union.” This became the organizing principle for Europe’s subsequent evolution.''

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