Europe has rediscovered the social market economy
The pandemic compelled governments to intervene to support livelihoods, spurring a tide of labour reforms.
There are quotes so good they become trite through overuse. So it might be thought of Jean Monnet’s line that Europe will be forged in crises and become the sum of the solutions it addresses them with.
Cliché or not, the foresight of Monnet – one of the architects of the EU – has held up in this crisis as it has in past ones. The pandemic helped the EU cross the Rubicon of common borrowing for fiscal transfers.
Financial Times
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