The Euro crisis is not simply a financial dynamic. It is the end of a period of history,
the confluence of several trend lines: the unification of Germany, the end of the Soviet Union, the collapse of the Berlin Wall, the expansion of NATO, the expansion of the European Union, and the creation of the single currency together constitute a unique period in modern European history.

The trend line was also defined by moving the borders of Europe eastward with the expectation that an expanded Europe would manage its own internal dynamics well and provide stability in an historically unstable region of the world. Keep reading →