Is Europe Our Next Big Problem? ; Eu Institutions Are Leaky Boats Sailing Into a Storm

Summary

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The European Union is in the worst crisis of its 50-year history, and one frequently hears people ask whether the EU has the leaders and the decision-making machinery it needs to survive. This adds to the already huge threats facing the world economy because if the EU - the world's largest economic entity - begins to founder, the rest of us are bound to suffer even more.

The seriousness of the problem is reflected in the frequency of summit meetings. An emergency Sunday summit March 1 in Brussels followed by little more than one week a top-level meeting in Berlin, and the same people met again two weeks later. They meet yet again Thursday, at the Group of 20 summit in London of major economic powers.

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Extract

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Is Europe Our Next Big Problem? ; Eu Institutions Are Leaky Boats Sailing Into a Storm

The March 1 meeting exposed some of the problems. It was called by the Czechs, who hold the revolving presidency of the EU. Czech Prime Minister Mirek Topolanek was reacting to French President Nicolas Sarkozy's announcement of a 6.5 billion euro ($8.5 billion) loan to French carmakers. Mr. ...

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