Project Syndicate
May 21, 2012
The euro, many now believe, will not survive a failed political class in Greece or escalating levels of unemployment in Spain: just wait another few months, they say, the European Union’s irresistible collapse has started.
Dark prophecies are often wrong, but they may also become self-fulfilling. Let’s be honest: playing Cassandra nowadays is not only tempting in a media world where “good news is no news”; it actually seems more justified than ever. For the EU, the situation has never appeared more serious.
It is precisely at this critical moment that it is essential to re-inject hope and, above all, common sense into the equation. So here are ten good reasons to believe in Europe – ten rational arguments to convince pessimistic analysts, and worried investors alike, that it is highly premature to bury the euro and the EU altogether.
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