Thomas Piketty on the E.U.: “It’s Time for a New Initiative”

Source: La Repubblica, May 12

Thomas PikettyRefugees, debts, unemployment: Europe’s crisis seems never ending. Consequently, for a growing section of the population withdrawal seems to be the simplest solution: we leave the community and return to the nation state and everything will be as it should be. Faced with this illusory promise – which however has the advantage of being clear – the progressive camp is dithering: yes, the situation is not great, but we must stick it out and wait for things to improve….

This fatal strategy must come to an end. It is time for the principal countries of the Eurozone to seize the initiative and form a hard core, able to take decisions and revive our continent…. Parallel to the existing treaties it would be entirely feasible to conclude a new intergovernmental treaty among those countries of the Eurozone that wish to do so.


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