Opinion | Progressive Europeanism in action
To preserve the EU, the European Central Bank had to step in with negative interest rates and asset purchases
Despite its obvious significance, Brexit is a mere sideshow compared to the muffled, but more fundamental disintegration taking place across the European Union (EU). The political centre is not holding in the key member states. Nationalism is on the march everywhere. Even pro-European governments have, in practice, abandoned all blueprints for genuine consolidation and are increasingly drifting toward re-nationalization of banking systems, public debt, and social policy.