Wall Street Journal
June 4, 2010
There isn't much popular willingness to yield sovereignty to remote institutions predominantly staffed by foreigners.
The current turmoil in Europe, sparked by the Greek debt crisis, has provoked hand-wringing about the future of European integration. But it also contains larger lessons about the limits of international institutions—and vindicates the much-criticized American reluctance to submit to international authorities over the past 20 years.
European integration has always had both an economic and political dimension. Economically, the reduction of trade barriers and the harmonization of regulatory systems would stimulate economic growth.
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