European Universities Identity Crisis

The European crisis is coming full circle.

The current European crisis is a case in point.

At first glance, European social democracy appears to be in crisis.

The European debt crisis, for example, remains far from being resolved.

The European financial crisis is really a political crisis, because EU leaders are unable to decide on the necessary measures.

Meanwhile, GDP in many European countries remains markedly below pre crisis levels.

The eurozone and the European Union could survive its fiscal crisis intact.

Given the overall European crisis, even Poland s economy is no longer booming.

This humane European capitalism is now hastening toward crisis ridden southern Europe.

But European officials hesitant response to the crisis added to the difficulty.

CLAREMONT, CALIFORNIA The debt crisis in Europe is no longer a European affair.

European policymakers have been agonizing over the same dilemma throughout the Cyprus crisis.

That may seem unlikely Why should the European crisis be so important elsewhere?

Unfortunately, another crisis or two might be necessary before European leaders consider it seriously.

Remarkably, a new European demos and public sphere are emerging from the economic crisis.

Indeed, the crisis is calling into question the very foundations of the European Union.

Third, European public opinion has, at last, fully comprehended the gravity of the crisis.

European socialists have failed to address the crisis cogently because of their internal divisions.

The European Central Bank is making its reputation at this time of turmoil and crisis.

Whatever the final outcome, the current crisis will fundamentally shape the future of European integration.

Israel was born as a state out of the gravest crisis of the European conscience.

The evolution of the crisis has, however, thrown European banks balance sheets into sharp focus.

The European debt crisis, however, remains, and markets do not fully trust the current calm.

The good news, however, is that European foreign policy has not unraveled in the crisis.

And, second, European countries must maintain the capacity to deal with any major security crisis.

But reducing European aspirations to the goals of Realpolitik is no answer to today s crisis.

With the economic crisis still hitting the continent hard, the merits of belonging to the European Union is being questioned in many European nations.

Never mind the subprime crisis of August 2007 or, closer to home, the European monetary crisis of August 1992 the August holiday is a venerable tradition.

Nobel laureate Amartya Sen attributed the European crisis to four failures political, economic, social, and intellectual.

But the European debt crisis will not disappear into thin air by virtue of wishful thinking.

Meanwhile, Europe finds itself paralyzed by a financial crisis that threatens the European Union s very existence.

Just as the soft landing in early 2009 occurred in the aftermath of a horrific American made crisis, this latest one followed the European sovereign debt crisis.

At the root of the European crisis (and its equivalent crisis in the United States) is a shift in the configuration of economic, social, and political power.

Owing to the former, the risks to Asia from a European banking crisis cannot be taken lightly.

Hardly anyone on the European Council seems willing even to acknowledge the depth of the EU crisis.

But if investors actually take that lesson to heart, the European crisis will be far from over.

There would be no common European plan to address the crisis, and no call for public funds.

In this sense, European leaders are right to focus on solving the financial crisis in the eurozone.

Foremost among those stories is the European financial crisis, which is talked about everywhere around the globe.

Well before the crisis, the European Union was widely perceived to be suffering from a democratic deficit.

Crisis torn peripheral European economies still suffer from unsustainable debt loads and serious productivity and competitiveness problems.

Doubts about the future of the European project in the wake of the euro crisis could push voters away from pro European reformers and towards nationalist politicians.

CLAREMONT, CALIFORNIA The debt crisis in Europe is no longer a European affair. Coupled with fears of a double dip recession in the United States, the European debt crisis is dragging the global economy into another cycle of financial panic and economic recession.

At the beginning of the crisis, in 2007 2008, the eurozone s fundamental flaws could have been corrected had Germany been willing to support a joint European crisis response.