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Virage

Discretion was set last December. At celebrate ten years of its existence, the euro was little money on global crisis. If we recognize that the single European currency has, overall, played well enough to shield its role in the thick of it, a few months later, Europe has experienced a genuine historic day. She finally decided to act jointly and to respond strongly to attacks on its currency and some of its members. But history teaches that there can be no divorce between sustainable monetary sovereignty and political sovereignty. At the time of the signing of the Maastricht Treaty, the euro's supporters argued that monetary integration would lead to the harmonization of economic policies. Our rickety Europe took a major shift by adopting a plan to help struggling states. It will only be a compress on a wooden leg so true political union and a government worthy of the name does not come quickly complete economic union. Hervé
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