Faced with the rise of anti-euro candidates for state
offices throughout the E.U., Mario Draghi, the president of the E.U.’s central
bank deemed it politically prudent to depart from the light world of cool
economic data to mount a spirited defense of the euro and even free trade in
March, 2017. With the UK having voted to secede from the Union, he could not
assume that the state of the Union would continue to be inherently viable. Indeed,
some political candidates at the state level were “questioning the whole idea
of a united Europe and the European Central Bank’s fundamental reason for
being.”[1]
The
complete essay is at Essays on Two Federal Empires.
[1] Jack
Ewing, “As
E.C.B. Charts Economic Course, Politics Complicate the Picture,” The New York Times, March 9, 2017.
