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"Instead of offering an alternative model of regional integration to the unregulated system of the global economy and its discredited ideology of market fundamentalism, Europe remained exposed to and entrapped by financial market players and neo-liberal economic policies. As a result, it de facto turned against its own aspiration to implement the European Social Model and equal up regional disparities. The East-West divide as well as the North-South divide is stronger or at least more obvious today than before 2004/2005. The new phase of peripheralisation conducted by German-led ordoliberalism ↑ has provoked national resistance and led to a further and sharp decline of public trust in both national and European institutions."
Interesting article in OpenDemocracy about the deeper reasons behind Europe's crisis. Excellent on analysis of what has gone wrong but less convincing on remedies.
