European spring – Trust in the EU and democracy is recovering | Bruegel

Southern europe

Southern europe (Photo credit: Wikipedia)

Citing latest survey evidence, European think-tank Bruegel argues that trust in the EU and satisfaction with democracy are returning in southern European countries, where citizens’ confidence in European institutions was dented during the crisis years.

European spring – Trust in the EU and democracy is recovering | Bruegel

Personally, I live in Southern Europe and struggle with the conclusion that trust is returning. After an unnecessarily prolonged period of austerity, with related economic and social pain, I accept that Europe is recovering economically. For me, trust cannot recover until Germany removes her stranglehold on the Euro and related EU fiscal management. I accept that President Macron’s election in France is a positive sign.

A whole generation of young people in Southern Europe have been permanently scarred by prolonged unemployment. Southern Europe did not receive a Marshall Plan from the troika of the IMF, ECB and the EU. In the end EU financial policy came to the aid of French and German banks rather than creating growth in Southern Europe.

Southern Europe still need powerful economic help. From a related blog on on US foreign in Afghanistan, we learn that US funding for Afghanistan vastly exceeded US investment in Germany with the Marshall Plan after WWII. So when will the central bankers and the IMF face up to the need for massive investment in Southern Europe, like for example, infrastructure investment to support the distribution of offshore natural gas in the territorial waters of Cyprus?

Let ask an open question:

Have you seen any evidence of a European Spring?

Thoughts?

One response

  1. There is no evidence for any such thing and the economic problems which led to the youth unemployment problems that DrAlf writes about are still there and worsening.
    The EU as a whole is £4.4 trillion GBP in debt and is not exporting enough to clear even a fraction of that debt other than in Germany and Holland which do enough to cover their needs but not much more.

    The problems of the PIIGS remain with Greece ready to implode financially and the rich countries of the EU refusing at the moment to bail Greece out. The Italian banks are insolvent,Portugal despite the best efforts of Professor Michael Porter of Harvard University to help the Government there,remains stubbornly uncompetitive.

    In France Macron has yet to explain how he proposes to create French jobs in the face of technology and Global competition whilst preserving the French way of life.

    Europe may be recovering economically but the pace of that recovery is pitifully slow and insufficient to build hope and trust in a better future or deal with the prospect of doubled migration of economic migrants from the countries of the African Union aided and facilitated by President Erdogan

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