Wednesday, September 2, 2015

Macron Proposes Refounding the EU

At last, a major political figure has called for a refounding of the EU. As the economist Herbert Stein once said, "If something can't go on, it won't." It has been apparent for some time that the EU as presently constituted can't go on, but nobody has been prepared to do anything about it. Whatever one thinks of Macron's policy views, he has one indispensable virtue in a politician: he is free of the conviction that his life's future depends on maintaining his electability. This frees him to say what he thinks. And he thinks that Europe needs to be rethought. Everyone else thinks so too, but no one wants to rock the boat--except for the likes of Schäuble, Varoufakis, Krugman, or Piketty, who are not shy about reminding the world that the EU can't go on like this. In any case, it's good to have Macron on record.

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