Friday, April 29, 2011


The Economist:
When we talk about the debt crisis in Europe, we tend to focus on the specific details--a relative loss of peripheral European competitiveness, accumulation of debt, rising bond yields and contracting economies. But the bigger story is a simpler one: The euro zone's political institutions did not keep up with its economic institutions.
It's the EU's "democracy deficit," and it's skyrocketing.

(via Instapundit)

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