The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
The European Union, bruised and battered by years of political and economic crises, is at a crossroads. In a recent speech to the European Parliament, French President Emmanuel Macron warned that today’s political divisions in Europe are like “a European civil war.” Although the decade-old eurozone crisis has faded from public view, the ongoing refugee crisis, Hungary’s and Poland’s descent into illiberalism, and the aftershocks of the Brexit vote continue to divide the continent. In this context, it is not surprising that the EU itself has become an increasingly politicized topic among voters, many of whom have come to doubt the competence and integrity of their political and financial masters in Brussels and at home. Although support for a full-blown exit from the EU still finds only limited public support, Euroskepticism has moved from the fringe to the mainstream.
Yet there is a way out of Brussels’