Euro-pessimism

Over the decades, Europe has alternated between excessive optimism and bouts of “Euro-pessimism” such as the current period. As the journalist Marcus Walker recently put it, Europe “was supposed to come of age as an actor on the world stage, bolstered by the Lisbon Treaty. Instead, Europe is starting to look like the loser in a new geopolitical order dominated by the US and emerging powers led by China.”