How the EU elite got it wrong on the euro: broken promises and reckless predictions from before the crisis

(PresseBox) ( London, )
The sovereign debt crisis that started with Greece now casts a long shadow over the entire eurozone, and indeed Europe as a whole. The previously unthinkable has become reality - German Chancellor Angela Merkel has warned that the single currency is in jeopardy and called for treaty changes to give the EU significant new powers over eurozone economies.

It's in everyone's interest for the eurozone to return to stability. However, moving forward, we must also ask: how did we end up in this mess? Politicians, after all, reassured us this was never going to happen. Open Europe has published some of the promises that the EU elite made over the last 15 years, highlighting that the politicians who sold their citizens the euro failed to either grasp or tell the whole truth about the single currency.

While it is a reminder that the experts and our elected representatives do get it wrong, more importantly, it is a call for greater honesty about the future of European cooperation and a reminder of the urgent need to find a new model that is both politically and economically sustainable; one that is more in tune with the interests and preferences of European citizens.

Open Europe analyst Vincenzo Scarpetta said:

"Ultimately, the eurozone crisis is not simply about economic failure but also a breakdown in trust between the political class and European citizens. The EU elite simply got it wrong on the euro - displaying a combination of naïve idealism, incompetence and dishonesty."

"The eurozone needs a longterm fix - no one wants to see more economic turmoil - but EU leaders won't achieve this until they face up to the failures and mistakes of the last twenty years. The elitedriven EU project is failing, and we now urgently need to find an economically sustainable and more democratic model for European cooperation that is more in tune with the interests and preferences of European citizens."

To read 'They said it: how the EU elite got it wrong on the euro', click here:

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