'Life is still far from easy in the peripheral states of the United States of Europe (as the euro zone is now known).' - Map illustration by Peter Arkle
2021: The New Europe
BY NIALL FERGUSON
Welcome to Europe, 2021. Ten years have elapsed since the great crisis of 2010-11, which claimed the scalps of no fewer than 10 governments, including Spain and France. Some things have stayed the same, but a lot has changed.
The euro is still circulating, though banknotes are now seldom seen. (Indeed, the ease of electronic payments now makes some people wonder why creating a single European currency ever seemed worth the effort.) But Brussels has been abandoned as Europe’s political headquarters. Vienna has been a great success.
“There is something about the Habsburg legacy,” explains the dynamic new Austrian Chancellor …
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